Dempze Nancy E Sells 200 Shares of Wells Fargo & Company $WFC

Dempze Nancy E lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,500 shares of the financial services provider’s stock after selling 200 shares during the quarter. Dempze Nancy E’s holdings in Wells Fargo & Company were worth $361,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CBIZ Investment Advisory Services LLC raised its holdings in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares in the last quarter. Motco raised its holdings in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the 1st quarter worth approximately $29,000. 1248 Management LLC purchased a new position in shares of Wells Fargo & Company in the 1st quarter worth approximately $31,000. Finally, Stone House Investment Management LLC purchased a new position in shares of Wells Fargo & Company in the 1st quarter worth approximately $34,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Piper Sandler reaffirmed an “overweight” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Finally, Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Nine equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average price target of $85.41.

Wells Fargo & Company Stock Down 1.7%

WFC stock opened at $79.74 on Thursday. The firm’s fifty day simple moving average is $80.65 and its 200-day simple moving average is $76.44. The company has a market capitalization of $255.44 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 12 month low of $57.07 and a 12 month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s payout ratio is currently 30.82%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.