RMB Capital Management LLC Trims Stock Position in Wells Fargo & Company (NYSE:WFC)

RMB Capital Management LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,976 shares of the financial services provider’s stock after selling 600 shares during the quarter. RMB Capital Management LLC’s holdings in Wells Fargo & Company were worth $823,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WFC. IFM Investors Pty Ltd raised its position in Wells Fargo & Company by 17.3% in the first quarter. IFM Investors Pty Ltd now owns 628,740 shares of the financial services provider’s stock valued at $30,469,000 after purchasing an additional 92,802 shares during the period. Qtron Investments LLC raised its position in Wells Fargo & Company by 45.9% in the first quarter. Qtron Investments LLC now owns 37,189 shares of the financial services provider’s stock valued at $1,802,000 after purchasing an additional 11,706 shares during the period. Weiss Multi Strategy Advisers LLC raised its position in Wells Fargo & Company by 56.7% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 996,217 shares of the financial services provider’s stock valued at $47,798,000 after purchasing an additional 360,635 shares during the period. MBL Wealth LLC purchased a new stake in Wells Fargo & Company in the first quarter valued at approximately $377,000. Finally, Salem Investment Counselors Inc. raised its position in Wells Fargo & Company by 1.6% in the fourth quarter. Salem Investment Counselors Inc. now owns 20,651 shares of the financial services provider’s stock valued at $991,000 after purchasing an additional 321 shares during the period. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $43.76 on Friday. Wells Fargo & Company has a 1-year low of $36.54 and a 1-year high of $60.30. The stock has a market cap of $165.98 billion, a PE ratio of 10.49, a price-to-earnings-growth ratio of 1.08 and a beta of 1.18. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a fifty day moving average price of $41.50 and a 200 day moving average price of $46.94.

Wells Fargo & Company (NYSE:WFCGet Rating) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The company had revenue of $17.03 billion during the quarter, compared to analysts’ expectations of $17.54 billion. During the same period last year, the firm earned $1.38 earnings per share. Wells Fargo & Company’s revenue was down 16.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 5th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 4th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 2.74%. Wells Fargo & Company’s payout ratio is 23.98%.

Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $54.00 to $56.00 in a research report on Thursday, April 14th. Jefferies Financial Group dropped their price target on shares of Wells Fargo & Company from $55.00 to $47.00 in a research note on Monday, July 11th. Royal Bank of Canada dropped their price target on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 1st. Barclays dropped their price target on shares of Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Finally, Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

Wells Fargo & Company Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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