Ferguson Wellman Capital Management Inc. Has $874,000 Position in Wells Fargo & Company (NYSE:WFC)

Ferguson Wellman Capital Management Inc. lowered its position in Wells Fargo & Company (NYSE:WFC) by 3.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 22,304 shares of the financial services provider’s stock after selling 871 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Wells Fargo & Company were worth $874,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Landmark Wealth Management LLC acquired a new position in Wells Fargo & Company during the first quarter valued at approximately $40,000. Gibson Wealth Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Financial Management Professionals Inc. grew its holdings in Wells Fargo & Company by 193.3% during the first quarter. Financial Management Professionals Inc. now owns 522 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 344 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Wells Fargo & Company during the first quarter valued at approximately $25,000. Finally, Toth Financial Advisory Corp grew its stake in shares of Wells Fargo & Company by 2,142.9% in the first quarter. Toth Financial Advisory Corp now owns 628 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 72.23% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of several research reports. Raymond James reduced their target price on Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. Piper Sandler set a $48.00 target price on Wells Fargo & Company in a research report on Monday, June 20th. Citigroup reduced their target price on Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, July 12th. Jefferies Financial Group cut their price objective on Wells Fargo & Company from $55.00 to $47.00 in a report on Monday, July 11th. Finally, Credit Suisse Group cut their price objective on Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.97.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $41.52 on Friday. The stock has a 50-day moving average price of $43.88 and a 200 day moving average price of $44.46. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. The firm has a market cap of $157.49 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 1.04 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $36.54 and a 12 month high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last posted its earnings results on Friday, July 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.03). The company had revenue of $17.03 billion for the quarter, compared to analyst estimates of $17.54 billion. Wells Fargo & Company had a return on equity of 10.67% and a net margin of 22.52%. Wells Fargo & Company’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Research analysts expect that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were given a dividend of $0.30 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Thursday, August 4th. Wells Fargo & Company’s payout ratio is presently 28.78%.

Wells Fargo & 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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