MCF Advisors LLC Has $707,000 Holdings in Wells Fargo & Company (WFC)
MCF Advisors LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 12,751 shares of the financial services provider’s stock after selling 363 shares during the quarter. MCF Advisors LLC’s holdings in Wells Fargo & were worth $707,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Delphi Private Advisors LLC raised its stake in shares of Wells Fargo & by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,461 shares in the last quarter. Alexandria Capital LLC raised its stake in shares of Wells Fargo & by 0.3% in the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares in the last quarter. Brick & Kyle Associates raised its stake in shares of Wells Fargo & by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of Wells Fargo & in the 1st quarter worth $124,000. Finally, America First Investment Advisors LLC raised its stake in shares of Wells Fargo & by 8.3% in the 2nd quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock worth $145,000 after buying an additional 200 shares in the last quarter. Institutional investors own 75.19% of the company’s stock.
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Wells Fargo & Company (NYSE WFC) traded up 0.72% during mid-day trading on Friday, hitting $51.66. The stock had a trading volume of 28,494,345 shares. The company has a market capitalization of $34.56 billion, a P/E ratio of 12.72 and a beta of 0.96. Wells Fargo & Company has a 52 week low of $43.55 and a 52 week high of $59.99. The stock’s 50-day moving average is $51.92 and its 200 day moving average is $54.04.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post $4.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were paid a $0.39 dividend. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, August 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.02%. Wells Fargo &’s dividend payout ratio (DPR) is currently 38.42%.
Wells Fargo & declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms have recently commented on WFC. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Buckingham Research reissued a “neutral” rating and issued a $62.00 price objective (up previously from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Keefe, Bruyette & Woods reissued an “overweight” rating on shares of Wells Fargo & in a research note on Thursday, July 13th. Finally, Instinet reissued a “buy” rating and issued a $64.00 price objective on shares of Wells Fargo & in a research note on Wednesday, July 12th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $55.85.
About Wells Fargo &
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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