Wells Fargo & Company (NYSE:WFC) Shares Sold by Bremer Bank National Association

Bremer Bank National Association cut its holdings in Wells Fargo & Company (NYSE:WFC) by 14.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,582 shares of the financial services provider’s stock after selling 1,776 shares during the quarter. Bremer Bank National Association’s holdings in Wells Fargo & Company were worth $628,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WFC. DMC Group LLC increased its holdings in shares of Wells Fargo & Company by 6.8% in the second quarter. DMC Group LLC now owns 20,592 shares of the financial services provider’s stock valued at $1,223,000 after purchasing an additional 1,319 shares during the period. Financial Insights Inc. increased its stake in Wells Fargo & Company by 111.0% in the 2nd quarter. Financial Insights Inc. now owns 7,753 shares of the financial services provider’s stock valued at $460,000 after buying an additional 4,078 shares during the period. NorthCrest Asset Manangement LLC raised its position in Wells Fargo & Company by 1.6% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 171,183 shares of the financial services provider’s stock worth $10,167,000 after buying an additional 2,669 shares during the last quarter. Maia Wealth LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter worth $225,000. Finally, Bank Pictet & Cie Asia Ltd. boosted its holdings in shares of Wells Fargo & Company by 3.7% in the second quarter. Bank Pictet & Cie Asia Ltd. now owns 33,821 shares of the financial services provider’s stock valued at $2,009,000 after acquiring an additional 1,221 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. BMO Capital Markets lifted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Jefferies Financial Group boosted their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Evercore ISI restated an “outperform” rating and issued a $67.00 price target (down previously from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods dropped their price objective on 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. Thirteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $59.91.

Wells Fargo & Company Stock Up 1.5 %

Shares of NYSE WFC traded up $0.78 during trading on Wednesday, reaching $53.65. 13,214,975 shares of the stock were exchanged, compared to its average volume of 18,125,953. The company has a market capitalization of $187.04 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.40 and a beta of 1.17. The business’s 50-day moving average price is $57.90 and its 200 day moving average price is $57.13. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $20.29 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is 32.85%.

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.