Wells Fargo & Company (NYSE:WFC) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL reduced its stake in Wells Fargo & Company (NYSE:WFCGet Rating) by 1.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,394,737 shares of the financial services provider’s stock after selling 25,698 shares during the period. Gamco Investors INC. ET AL’s holdings in Wells Fargo & Company were worth $67,589,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Gibson Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at $25,000. FNY Investment Advisers LLC acquired a new position in Wells Fargo & Company during the 1st quarter valued at about $25,000. Financial Management Professionals Inc. grew its position in Wells Fargo & Company by 193.3% in the 1st quarter. Financial Management Professionals Inc. now owns 522 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 344 shares during the last quarter. KRS Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $28,000. Finally, Toth Financial Advisory Corp raised its holdings in shares of Wells Fargo & Company by 2,142.9% during the first quarter. Toth Financial Advisory Corp now owns 628 shares of the financial services provider’s stock valued at $30,000 after buying an additional 600 shares during the last quarter. 72.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley raised their target price on Wells Fargo & Company from $59.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 18th. Citigroup cut their price objective on shares of Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th. Barclays decreased their target price on shares of Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Credit Suisse Group dropped their price target on shares of Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, July 18th. Finally, Royal Bank of Canada reduced their price target on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 1st. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $55.97.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $43.22 on Wednesday. The company has a 50-day moving average of $43.36 and a two-hundred day moving average of $44.77. The stock has a market cap of $163.94 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 1.11 and a beta of 1.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.80. Wells Fargo & Company has a one year low of $36.54 and a one year high of $60.30.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.14). Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The firm had revenue of $17.03 billion during the quarter, compared to analysts’ expectations of $17.54 billion. During the same quarter last year, the company posted $1.38 EPS. The firm’s revenue was down 16.0% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & Company will post 4 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were issued a dividend of $0.30 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.78%. Wells Fargo & Company’s payout ratio is currently 28.78%.

Wells Fargo & Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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