UMB Bank n.a. Cuts Stock Position in Wells Fargo & Company (NYSE:WFC)

UMB Bank n.a. trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,915 shares of the financial services provider’s stock after selling 7,798 shares during the period. UMB Bank n.a.’s holdings in Wells Fargo & Company were worth $5,305,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sanibel Captiva Trust Company Inc. boosted its stake in Wells Fargo & Company by 6.0% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 14,330 shares of the financial services provider’s stock valued at $810,000 after purchasing an additional 807 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in Wells Fargo & Company by 11.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 17,512 shares of the financial services provider’s stock valued at $989,000 after purchasing an additional 1,748 shares during the last quarter. Abner Herrman & Brock LLC boosted its stake in Wells Fargo & Company by 96.1% during the 3rd quarter. Abner Herrman & Brock LLC now owns 139,950 shares of the financial services provider’s stock valued at $7,906,000 after purchasing an additional 68,600 shares during the last quarter. Tealwood Asset Management Inc. purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at $1,354,000. Finally, Traveka Wealth LLC boosted its stake in Wells Fargo & Company by 8.0% during the 3rd quarter. Traveka Wealth LLC now owns 3,975 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 295 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WFC shares. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Twelve equities research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.65.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $57.76 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The business’s 50-day simple moving average is $55.22 and its two-hundred day simple moving average is $57.75. The stock has a market cap of $196.60 billion, a PE ratio of 11.86, a P/E/G ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $38.58 and a 52 week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.