Sapient Capital LLC Sells 10,152 Shares of Wells Fargo & Company $WFC

Sapient Capital LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 5.4% during the second quarter, HoldingsChannel.com reports. The firm owned 176,500 shares of the financial services provider’s stock after selling 10,152 shares during the period. Sapient Capital LLC’s holdings in Wells Fargo & Company were worth $14,586,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares during the last quarter. Jump Financial LLC boosted its holdings in Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after buying an additional 2,615 shares during the last quarter. Main Street Financial Solutions LLC boosted its holdings in Wells Fargo & Company by 111.0% during the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP grew its position in shares of Wells Fargo & Company by 5.4% during the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock worth $259,000 after buying an additional 165 shares during the period. Finally, Diversify Advisory Services LLC grew its position in shares of Wells Fargo & Company by 51.2% during the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock worth $2,044,000 after buying an additional 8,714 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 0.0%

Shares of Wells Fargo & Company stock opened at $87.25 on Monday. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The business has a 50-day moving average of $84.90 and a two-hundred day moving average of $83.03. The company has a market capitalization of $263.86 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 0.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same quarter last year, the firm posted $1.60 earnings per share. Wells Fargo & Company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts predict that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.07%.

Analyst Ratings Changes

A number of brokerages have recently commented on WFC. JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Piper Sandler reissued an “overweight” rating and set a $94.00 price objective (down from $100.00) on shares of Wells Fargo & Company in a research note on Wednesday, April 15th. UBS Group decreased their price objective on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $98.61.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.