SilverOak Wealth Management LLC Sells 794 Shares of Wells Fargo & Company (NYSE:WFC)

SilverOak Wealth Management LLC lessened its position in Wells Fargo & Company (NYSE:WFC) by 8.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,901 shares of the financial services provider’s stock after selling 794 shares during the period. SilverOak Wealth Management LLC’s holdings in Wells Fargo & Company were worth $529,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Core Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth $32,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $34,000. Beaird Harris Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $34,000. Finally, Valued Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on WFC. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. BMO Capital Markets upped their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods cut their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Finally, Evercore ISI lowered their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $60.29.

Wells Fargo & Company Stock Up 2.3 %

Shares of Wells Fargo & Company stock opened at $52.78 on Friday. The firm has a market cap of $179.65 billion, a PE ratio of 10.84, a P/E/G ratio of 1.27 and a beta of 1.16. The business’s 50 day simple moving average is $56.60 and its 200 day simple moving average is $57.89. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. On average, analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

About Wells Fargo & Company

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