Wolff Wiese Magana LLC Has $142,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Wolff Wiese Magana LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 22.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,634 shares of the financial services provider’s stock after selling 1,047 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Wells Fargo & Company were worth $142,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of WFC. People s United Financial Inc. raised its position in shares of Wells Fargo & Company by 2.8% during the fourth quarter. People s United Financial Inc. now owns 19,035 shares of the financial services provider’s stock worth $913,000 after acquiring an additional 525 shares during the last quarter. Hilltop Holdings Inc. raised its position in shares of Wells Fargo & Company by 7.3% during the fourth quarter. Hilltop Holdings Inc. now owns 13,274 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 903 shares during the last quarter. LPL Financial LLC raised its position in shares of Wells Fargo & Company by 9.3% during the fourth quarter. LPL Financial LLC now owns 1,588,600 shares of the financial services provider’s stock worth $76,221,000 after acquiring an additional 135,553 shares during the last quarter. Freestone Capital Holdings LLC raised its position in shares of Wells Fargo & Company by 2.6% during the fourth quarter. Freestone Capital Holdings LLC now owns 186,186 shares of the financial services provider’s stock worth $8,933,000 after acquiring an additional 4,740 shares during the last quarter. Finally, Ulysses Management LLC raised its position in shares of Wells Fargo & Company by 25.0% during the fourth quarter. Ulysses Management LLC now owns 50,000 shares of the financial services provider’s stock worth $2,399,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 72.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on WFC shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, September 12th. Barclays dropped their price objective on Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a report on Monday, July 18th. Royal Bank of Canada dropped their price objective on Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a report on Friday, July 1st. Piper Sandler set a $48.00 price target on Wells Fargo & Company in a report on Monday, June 20th. Finally, Morgan Stanley increased their price target on Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.97.

Wells Fargo & Company Stock Performance

NYSE:WFC traded down $1.49 on Friday, hitting $40.03. The company’s stock had a trading volume of 1,685,522 shares, compared to its average volume of 14,959,803. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The stock has a fifty day moving average of $43.88 and a two-hundred day moving average of $44.46. The firm has a market capitalization of $151.84 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. 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 released its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.03). The business 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%. Wells Fargo & Company’s quarterly revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 EPS. Research analysts predict that Wells Fargo & Company will post 4 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.00%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.25. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.78%.

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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