Wells Fargo & Company (NYSE:WFC) Holdings Trimmed by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 6.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,179 shares of the financial services provider’s stock after selling 1,102 shares during the period. Koshinski Asset Management Inc.’s holdings in Wells Fargo & Company were worth $634,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Gibson Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC acquired a new position in Wells Fargo & Company in the 1st quarter worth approximately $25,000. Financial Management Professionals Inc. grew its position in Wells Fargo & Company by 193.3% during 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 in the last quarter. Toth Financial Advisory Corp raised its stake in Wells Fargo & Company by 2,142.9% during the 1st quarter. Toth Financial Advisory Corp now owns 628 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 600 shares during the period. Finally, Retirement Group LLC raised its stake in Wells Fargo & Company by 6,250.0% during the 1st quarter. Retirement Group LLC now owns 635 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 625 shares during the period. 72.23% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $41.52 on Friday. The business’s 50-day simple moving average is $43.88 and its 200-day simple moving average is $44.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.81. Wells Fargo & Company has a 52 week low of $36.54 and a 52 week high of $60.30. The firm has a market cap of $157.49 billion, a price-to-earnings ratio of 9.96, a P/E/G ratio of 1.06 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). The firm had revenue of $17.03 billion during the quarter, compared to the consensus estimate of $17.54 billion. Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.38 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 4 earnings per share for the current fiscal 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 given a $0.30 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Thursday, August 4th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WFC. Raymond James lowered their price target on Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, June 24th. Citigroup dropped their target price on Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, September 12th. Credit Suisse Group lowered their price objective 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, Morgan Stanley increased their target price on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 18th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average target price of $55.97.

Wells Fargo & Company 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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