Compagnie Lombard Odier SCmA Trims Position in Wells Fargo & Company (NYSE:WFC)

Compagnie Lombard Odier SCmA trimmed its stake in Wells Fargo & Company (NYSE:WFC) by 86.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,250 shares of the financial services provider’s stock after selling 66,160 shares during the period. Compagnie Lombard Odier SCmA’s holdings in Wells Fargo & Company were worth $579,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Mattson Financial Services LLC bought a new position in Wells Fargo & Company in the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth $26,000. Transcendent Capital Group LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at $32,000. Valued Wealth Advisors LLC lifted its stake in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the period. Finally, J.Safra Asset Management Corp grew its holdings in Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WFC shares. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Tuesday, October 8th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Morgan Stanley cut their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Evercore ISI raised their price objective on Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets lifted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $61.07.

Wells Fargo & Company Stock Up 5.6 %

Shares of WFC stock opened at $60.99 on Monday. Wells Fargo & Company has a fifty-two week low of $38.58 and a fifty-two week high of $62.55. The firm has a market capitalization of $212.63 billion, a PE ratio of 12.52, a P/E/G ratio of 1.46 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The stock’s 50-day simple moving average is $55.39 and its 200-day simple moving average is $57.79.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.25. The firm had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.39 earnings per share. Equities analysts expect that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s payout ratio is 32.85%.

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.