Deseret Mutual Benefit Administrators Has $655,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Deseret Mutual Benefit Administrators lessened its stake in Wells Fargo & Company (NYSE:WFC) by 10.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,033 shares of the financial services provider’s stock after selling 1,238 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Wells Fargo & Company were worth $655,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Slagle Financial LLC increased its holdings in Wells Fargo & Company by 97.3% during the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after purchasing an additional 68,356 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Wells Fargo & Company by 5.4% during the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after buying an additional 1,835 shares in the last quarter. Wedmont Private Capital raised its position 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 valued at $8,805,000 after buying an additional 21,496 shares during the last quarter. Quadrant Capital Group LLC lifted 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 in the last quarter. Finally, Pacific Global Investment Management Co. boosted its position in Wells Fargo & Company by 13.4% during the 4th quarter. Pacific Global Investment Management Co. now owns 13,680 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 1,620 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC traded down $0.64 during mid-day trading on Thursday, hitting $57.48. 1,216,575 shares of the stock were exchanged, compared to its average volume of 17,675,242. The firm’s 50-day simple moving average is $57.43 and its 200 day simple moving average is $57.88. The stock has a market capitalization of $200.39 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 1.43 and a beta of 1.17. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86.

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, beating analysts’ consensus estimates 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 analysts’ expectations of $20.29 billion. During the same quarter in the previous year, the business posted $1.25 earnings per share. Wells Fargo & Company’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.15 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research reports. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and cut their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $67.00 target price (down previously from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Finally, BMO Capital Markets increased their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $60.41.

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.