Wells Fargo & Company $WFC Shares Sold by E&G Advisors LP

E&G Advisors LP lowered its stake in Wells Fargo & Company (NYSE:WFC) by 22.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 8,034 shares of the financial services provider’s stock after selling 2,379 shares during the quarter. E&G Advisors LP’s holdings in Wells Fargo & Company were worth $644,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Wealth Management Partners LLC lifted its position in Wells Fargo & Company by 3.5% in the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after buying an additional 128 shares during the last quarter. Summit Wealth & Retirement Planning Inc. lifted its position in Wells Fargo & Company by 4.3% in the first quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider’s stock valued at $241,000 after buying an additional 139 shares during the last quarter. Nwam LLC lifted its position in Wells Fargo & Company by 1.6% in the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider’s stock valued at $632,000 after buying an additional 142 shares during the last quarter. PGIM Custom Harvest LLC lifted its position in Wells Fargo & Company by 3.5% in the first quarter. PGIM Custom Harvest LLC now owns 4,225 shares of the financial services provider’s stock valued at $303,000 after buying an additional 142 shares during the last quarter. Finally, Tradition Wealth Management LLC lifted its position in Wells Fargo & Company by 0.5% in the first quarter. Tradition Wealth Management LLC now owns 30,420 shares of the financial services provider’s stock valued at $2,184,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WFC shares. Bank of America upped their target price on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Dbs Bank upgraded shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Raymond James Financial lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Finally, The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $82.56.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $85.17 on Tuesday. The firm has a market capitalization of $272.85 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.31 and a beta of 1.25. Wells Fargo & Company has a 52 week low of $53.31 and a 52 week high of $85.28. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The firm’s 50 day moving average is $80.47 and its two-hundred day moving average is $75.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 earnings per share. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company’s payout ratio is currently 30.82%.

Wells Fargo & Company Company Profile

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.