AIMZ Investment Advisors LLC Lowers Holdings in Wells Fargo & Company (NYSE:WFC)

AIMZ Investment Advisors LLC decreased its position in Wells Fargo & Company (NYSE:WFC) by 8.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,235 shares of the financial services provider’s stock after selling 1,095 shares during the period. AIMZ Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $667,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WFC. Norges Bank purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $2,623,044,000. 1832 Asset Management L.P. boosted its holdings in shares of Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after purchasing an additional 2,349,595 shares during the period. Morningstar Investment Services LLC boosted its holdings in shares of Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after purchasing an additional 1,951,477 shares during the period. Rokos Capital Management LLP raised its stake in Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after buying an additional 1,536,152 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in Wells Fargo & Company during the 1st quarter valued at $84,819,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.4 %

WFC stock opened at $53.73 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The stock has a market cap of $187.32 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.27 and a beta of 1.16. The business’s 50-day moving average is $56.92 and its 200 day moving average is $57.94.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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 return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same period in the previous year, the firm posted $1.25 EPS. Wells Fargo & Company’s revenue was up .8% compared to the same quarter last year. On average, sell-side 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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WFC shares. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. BMO Capital Markets increased their target price 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. The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Finally, Evercore ISI dropped their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & 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.