Epoch Investment Partners Inc. Cuts Holdings in Wells Fargo & Company $WFC

Epoch Investment Partners Inc. lowered its stake in Wells Fargo & Company (NYSE:WFC) by 2.9% during the first quarter, Holdings Channel.com reports. The firm owned 348,420 shares of the financial services provider’s stock after selling 10,555 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Wells Fargo & Company were worth $27,738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Godfrey Financial Associates Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Miller Capital Partners Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Navalign LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Joseph Group Capital Management purchased a new position in Wells Fargo & Company in the fourth quarter worth approximately $28,000. Finally, Phillip James Consulting Co. acquired a new position in Wells Fargo & Company during the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 15th. JPMorgan Chase & Co. lifted their price objective on shares of Wells Fargo & Company from $86.50 to $93.50 and gave the stock a “neutral” rating in a research report on Monday, July 6th. Robert W. Baird boosted their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $98.50.

Wells Fargo & Company Stock Up 0.2%

WFC stock opened at $86.39 on Friday. The stock has a market cap of $264.37 billion, a P/E ratio of 12.56, a PEG ratio of 0.94 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company’s 50 day moving average is $82.72 and its two-hundred day moving average is $83.51.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 26.16%.

Wells Fargo & Company Profile

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.