Fiduciary Family Office LLC Sells 2,339 Shares of Wells Fargo & Company (NYSE:WFC)

Fiduciary Family Office LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,973 shares of the financial services provider’s stock after selling 2,339 shares during the quarter. Wells Fargo & Company makes up 1.1% of Fiduciary Family Office LLC’s investment portfolio, making the stock its 13th largest holding. Fiduciary Family Office LLC’s holdings in Wells Fargo & Company were worth $2,671,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Slagle Financial LLC lifted its stake in Wells Fargo & Company by 97.3% in the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after purchasing an additional 68,356 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Wells Fargo & Company by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after acquiring an additional 1,835 shares during the period. Wedmont Private Capital increased its holdings in Wells Fargo & Company by 16.4% in the 1st quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after acquiring an additional 21,496 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Wells Fargo & Company by 61.7% in the 4th quarter. Quadrant Capital Group LLC now owns 41,268 shares of the financial services provider’s stock valued at $2,031,000 after acquiring an additional 15,742 shares during the period. Finally, Pacific Global Investment Management Co. lifted its holdings in Wells Fargo & Company by 13.4% during the fourth quarter. Pacific Global Investment Management Co. now owns 13,680 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 1,620 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WFC shares. BMO Capital Markets lifted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and reduced their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Morgan Stanley increased their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI reiterated an “outperform” rating and issued a $67.00 price target (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.41.

Wells Fargo & Company Price Performance

WFC stock opened at $58.65 on Tuesday. The firm has a 50 day simple moving average of $57.39 and a two-hundred day simple moving average of $57.83. The stock has a market cap of $204.47 billion, a PE ratio of 12.01, a P/E/G ratio of 1.43 and a beta of 1.17. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same period in the previous year, the business earned $1.25 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts predict that Wells Fargo & Company will post 5.15 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Wells Fargo & Company Company Profile

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