Wells Fargo & Company (NYSE:WFC) Shares Sold by Blume Capital Management Inc.

Blume Capital Management Inc. lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 140,232 shares of the financial services provider’s stock after selling 3,186 shares during the quarter. Wells Fargo & Company accounts for 2.3% of Blume Capital Management Inc.’s holdings, making the stock its 16th biggest position. Blume Capital Management Inc.’s holdings in Wells Fargo & Company were worth $6,351,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Holderness Investments Co. boosted its holdings in Wells Fargo & Company by 0.8% during the second quarter. Holderness Investments Co. now owns 26,077 shares of the financial services provider’s stock worth $1,181,000 after buying an additional 215 shares in the last quarter. Jacobi Capital Management LLC boosted its holdings in Wells Fargo & Company by 1.4% during the first quarter. Jacobi Capital Management LLC now owns 16,679 shares of the financial services provider’s stock worth $652,000 after buying an additional 236 shares in the last quarter. Usca Ria LLC boosted its holdings in Wells Fargo & Company by 0.4% during the second quarter. Usca Ria LLC now owns 67,013 shares of the financial services provider’s stock worth $3,035,000 after buying an additional 242 shares in the last quarter. One Capital Management LLC boosted its holdings in Wells Fargo & Company by 0.6% during the first quarter. One Capital Management LLC now owns 38,403 shares of the financial services provider’s stock worth $1,500,000 after buying an additional 245 shares in the last quarter. Finally, Sargent Bickham Lagudis LLC boosted its holdings in Wells Fargo & Company by 12.2% during the second quarter. Sargent Bickham Lagudis LLC now owns 2,511 shares of the financial services provider’s stock worth $114,000 after buying an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 70.82% of the company’s stock.

Shares of WFC traded up $0.08 during trading on Wednesday, reaching $46.13. 312,325 shares of the company traded hands, compared to its average volume of 30,603,697. Wells Fargo & Company has a twelve month low of $20.76 and a twelve month high of $51.41. The stock has a market cap of $189.43 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 0.99 and a beta of 1.36. The stock has a 50-day simple moving average of $46.23 and a 200-day simple moving average of $44.24. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.04.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 13th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.40. Wells Fargo & Company had a net margin of 19.79% and a return on equity of 9.85%. The business had revenue of $20.27 billion during the quarter, compared to analysts’ expectations of $17.69 billion. During the same period last year, the business earned ($0.66) earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & Company will post 4.37 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 6th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 5th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.73%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 145.45%.

Several equities analysts have issued reports on WFC shares. Keefe, Bruyette & Woods started coverage on shares of Wells Fargo & Company in a report on Wednesday, July 7th. They set an “outperform” rating and a $57.00 price objective on the stock. Compass Point increased their price objective on shares of Wells Fargo & Company from $46.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, May 18th. UBS Group reaffirmed a “neutral” rating and set a $47.00 price objective (up from $40.00) on shares of Wells Fargo & Company in a report on Tuesday, May 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Wells Fargo & Company from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, September 1st. Finally, Evercore ISI reaffirmed a “buy” rating and set a $49.00 price objective on shares of Wells Fargo & Company in a report on Friday, September 10th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Buy” and a consensus price target of $47.52.

About Wells Fargo & Company

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

Featured Article: Conference Calls

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

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.