HC Advisors LLC Sells 715 Shares of Wells Fargo & Company $WFC

HC Advisors LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 17.9% in the second quarter, Holdings Channel.com reports. The firm owned 3,284 shares of the financial services provider’s stock after selling 715 shares during the quarter. HC Advisors LLC’s holdings in Wells Fargo & Company were worth $263,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFC. Access Investment Management LLC acquired a new position in shares of Wells Fargo & Company during the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC lifted its stake in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in Wells Fargo & Company during the 2nd quarter worth approximately $27,000. Motco grew its stake in shares of Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 326 shares in the last quarter. Finally, Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Bank of America lifted their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Barclays increased their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Stock Up 0.0%

Shares of WFC stock opened at $86.05 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The firm’s 50-day moving average is $83.25 and its 200-day moving average is $79.36. The stock has a market cap of $270.11 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.50.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $1.42 earnings per share. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.