Wells Fargo & Company $WFC Position Reduced by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 113,354 shares of the financial services provider’s stock after selling 1,565 shares during the quarter. Wells Fargo & Company makes up approximately 2.4% of Uncommon Cents Investing LLC’s portfolio, making the stock its 4th biggest position. Uncommon Cents Investing LLC’s holdings in Wells Fargo & Company were worth $9,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its holdings in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares in the last quarter. Motco increased its holdings in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the last quarter. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at $29,000. 1248 Management LLC acquired a new position in Wells Fargo & Company during the 1st quarter worth $31,000. Finally, Stone House Investment Management LLC acquired a new position in Wells Fargo & Company in the 1st quarter valued at about $34,000. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on WFC shares. Bank of America increased their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Evercore ISI reissued an “outperform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.97.

Wells Fargo & Company Stock Up 0.8%

Shares of WFC opened at $85.01 on Friday. The stock’s 50 day moving average is $80.84 and its two-hundred day moving average is $75.91. The firm has a market cap of $272.32 billion, a P/E ratio of 14.56, a PEG ratio of 1.31 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 12 month low of $54.40 and a 12 month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.29% and a net margin of 16.82%.Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.33 EPS. Analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

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

About Wells Fargo & Company

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.