Barnett & Company Inc. lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 26.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,314 shares of the financial services provider’s stock after selling 1,580 shares during the period. Barnett & Company Inc.’s holdings in Wells Fargo & Co were worth $239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of WFC. Kessler Investment Group LLC increased its position in shares of Wells Fargo & Co by 2.3% in the 2nd quarter. Kessler Investment Group LLC now owns 38,680 shares of the financial services provider’s stock valued at $2,144,000 after acquiring an additional 875 shares during the period. Community Trust & Investment Co. increased its position in shares of Wells Fargo & Co by 13.1% in the 2nd quarter. Community Trust & Investment Co. now owns 7,723 shares of the financial services provider’s stock valued at $428,000 after acquiring an additional 894 shares during the period. Copperwynd Financial LLC increased its position in shares of Wells Fargo & Co by 15.7% in the 2nd quarter. Copperwynd Financial LLC now owns 6,648 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 900 shares during the period. Boyd Watterson Asset Management LLC OH increased its position in shares of Wells Fargo & Co by 2.8% in the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 33,937 shares of the financial services provider’s stock valued at $1,881,000 after acquiring an additional 909 shares during the period. Finally, Cypress Wealth Advisors LLC increased its position in shares of Wells Fargo & Co by 9.8% in the 1st quarter. Cypress Wealth Advisors LLC now owns 10,221 shares of the financial services provider’s stock valued at $536,000 after acquiring an additional 916 shares during the period. Institutional investors own 75.77% of the company’s stock.

In other news, EVP Avid Modjtabai sold 100,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Hope A. Hardison sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the sale, the executive vice president now owns 109 shares in the company, valued at $6,323.09. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.

Shares of WFC opened at $58.46 on Friday. The stock has a market cap of $288.28 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.60 and a beta of 1.13. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88. Wells Fargo & Co has a fifty-two week low of $49.27 and a fifty-two week high of $66.31.

Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.04). The company had revenue of $21.55 billion for the quarter, compared to analyst estimates of $21.52 billion. Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. analysts expect that Wells Fargo & Co will post 4.56 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Friday, August 10th will be given a dividend of $0.43 per share. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, August 9th. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 41.85%.

WFC has been the topic of several research reports. Zacks Investment Research raised Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Saturday, July 7th. Morgan Stanley cut their target price on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, July 16th. Susquehanna Bancshares set a $63.00 target price on Wells Fargo & Co and gave the company a “hold” rating in a research report on Friday, July 13th. Finally, Keefe, Bruyette & Woods raised Wells Fargo & Co from a “market perform” rating to an “outperform” rating and upped their target price for the company from $57.00 to $63.00 in a research report on Sunday, July 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $63.34.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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