Mcdonald Capital Investors Inc. CA Sells 27,083 Shares of Wells Fargo & Company $WFC

Mcdonald Capital Investors Inc. CA cut its stake in Wells Fargo & Company (NYSE:WFC) by 3.4% in the second quarter, HoldingsChannel.com reports. The fund owned 761,934 shares of the financial services provider’s stock after selling 27,083 shares during the period. Wells Fargo & Company makes up 3.8% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 12th largest position. Mcdonald Capital Investors Inc. CA’s holdings in Wells Fargo & Company were worth $61,046,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WFC. Brighton Jones LLC raised its holdings in Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the period. GAMMA Investing LLC raised its holdings in Wells Fargo & Company by 11.3% during the 1st quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock worth $3,393,000 after buying an additional 4,786 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in Wells Fargo & Company by 39.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 529,952 shares of the financial services provider’s stock worth $38,045,000 after buying an additional 151,108 shares during the period. Western Wealth Management LLC raised its holdings in Wells Fargo & Company by 13.5% during the 1st quarter. Western Wealth Management LLC now owns 13,775 shares of the financial services provider’s stock worth $989,000 after buying an additional 1,635 shares during the period. Finally, Money Concepts Capital Corp acquired a new stake in Wells Fargo & Company during the 1st quarter worth approximately $529,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

NYSE WFC opened at $86.35 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $87.47. The company has a market capitalization of $276.61 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. The firm’s 50 day moving average is $81.89 and its 200-day moving average is $77.72.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period last year, the company earned $1.42 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Wall Street Analyst Weigh In

WFC has been the topic of several research analyst reports. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. UBS Group dropped their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Truist Financial raised their target price on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. TD Cowen raised their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Finally, Citigroup raised their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $89.57.

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.