Tradewinds Capital Management LLC Sells 383 Shares of Wells Fargo & Company $WFC

Tradewinds Capital Management LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 5.0% in the 2nd quarter, Holdings Channel reports. The firm owned 7,349 shares of the financial services provider’s stock after selling 383 shares during the period. Tradewinds Capital Management LLC’s holdings in Wells Fargo & Company were worth $589,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. CBIZ Investment Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 585.5% during 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 during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the second quarter valued at about $27,000. Motco lifted its stake 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 buying an additional 326 shares during the period. Accent Capital Management LLC bought a new position in Wells Fargo & Company during the first quarter worth about $29,000. Finally, 1248 Management LLC bought a new position in Wells Fargo & Company during the first quarter worth about $31,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the subject of a number of analyst reports. Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. TD Cowen raised their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday. Barclays lifted their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Finally, Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Stock Down 0.9%

Shares of WFC stock opened at $83.25 on Friday. 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 firm’s 50-day moving average is $81.21 and its 200-day moving average is $76.90. The stock has a market cap of $266.70 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.16 and a beta of 1.25. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47.

Wells Fargo & Company (NYSE:WFC) last issued its 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 analysts’ expectations of $20.83 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors 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. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

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.