Clear Harbor Asset Management LLC Sells 15,925 Shares of Wells Fargo & Company $WFC

Clear Harbor Asset Management LLC cut its position in Wells Fargo & Company (NYSE:WFC) by 33.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,168 shares of the financial services provider’s stock after selling 15,925 shares during the period. Clear Harbor Asset Management LLC’s holdings in Wells Fargo & Company were worth $2,613,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Access Investment Management LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC grew its holdings in shares of Wells Fargo & Company by 585.5% during the first 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 acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at $27,000. 1248 Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at $31,000. Finally, Kilter Group LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at about $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Robert W. Baird reissued an “underperform” rating and set a $90.00 price objective on shares of Wells Fargo & Company in a report on Tuesday. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. HSBC reissued a “hold” rating and issued a $74.00 price target on shares of Wells Fargo & Company in a report on Wednesday. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. 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. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average price target of $93.91.

Read Our Latest Report on WFC

Key Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $95.64 on Friday. The firm has a fifty day moving average of $89.56 and a two-hundred day moving average of $84.27. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $300.22 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.86 and a beta of 1.09. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76.

Wells Fargo & Company (NYSE:WFCGet Free Report) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same period last year, the company earned $1.42 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 29.61%.

About Wells Fargo & Company

(Free Report)

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.

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

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