Stableford Capital II LLC Sells 432 Shares of Wells Fargo & Company $WFC

Stableford Capital II LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,658 shares of the financial services provider’s stock after selling 432 shares during the quarter. Wells Fargo & Company comprises approximately 1.2% of Stableford Capital II LLC’s portfolio, making the stock its 20th biggest position. Stableford Capital II LLC’s holdings in Wells Fargo & Company were worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of WFC. Aware Super Pty Ltd as trustee of Aware Super increased its stake in Wells Fargo & Company by 381.6% during the 2nd quarter. Aware Super Pty Ltd as trustee of Aware Super now owns 357,839 shares of the financial services provider’s stock valued at $28,670,000 after purchasing an additional 283,535 shares in the last quarter. Omnia Family Wealth LLC raised its holdings in Wells Fargo & Company by 9.0% in the 2nd quarter. Omnia Family Wealth LLC now owns 4,349 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 360 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Wells Fargo & Company in the 2nd quarter valued at approximately $660,000. WealthPlan Investment Management LLC boosted its stake in Wells Fargo & Company by 9.3% during the 2nd quarter. WealthPlan Investment Management LLC now owns 11,639 shares of the financial services provider’s stock valued at $933,000 after purchasing an additional 989 shares during the last quarter. Finally, Uptick Partners LLC raised its stake in shares of Wells Fargo & Company by 24.9% in the second quarter. Uptick Partners LLC now owns 9,386 shares of the financial services provider’s stock worth $752,000 after purchasing an additional 1,873 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on WFC. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday. UBS Group reduced their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Nine equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $86.42 on Thursday. The stock has a market cap of $276.83 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.37 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.83 and a current ratio of 0.84. The stock’s fifty day moving average is $80.97 and its 200 day moving average is $76.74. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter in the prior year, the business posted $1.33 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current 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 dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

Wells Fargo & 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.