Trillium Asset Management LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 45.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,766 shares of the financial services provider’s stock after selling 3,904 shares during the quarter. Trillium Asset Management LLC’s holdings in Wells Fargo & were worth $264,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Boston Partners increased its position in shares of Wells Fargo & by 140.1% during the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after purchasing an additional 11,139,780 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Wells Fargo & by 83.9% during the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock worth $443,728,000 after purchasing an additional 3,637,100 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Wells Fargo & by 49.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock worth $540,657,000 after purchasing an additional 3,214,592 shares in the last quarter. APG Asset Management N.V. increased its position in shares of Wells Fargo & by 38.8% during the second quarter. APG Asset Management N.V. now owns 9,587,279 shares of the financial services provider’s stock worth $531,231,000 after purchasing an additional 2,681,497 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Wells Fargo & during the first quarter worth approximately $90,858,000. Hedge funds and other institutional investors own 75.00% of the company’s stock.
Several analysts recently commented on WFC shares. Keefe, Bruyette & Woods set a $61.00 price target on Wells Fargo & and gave the stock a “buy” rating in a research report on Friday, August 25th. Instinet restated a “buy” rating and issued a $64.00 target price on shares of Wells Fargo & in a report on Wednesday, July 12th. Deutsche Bank AG restated a “buy” rating on shares of Wells Fargo & in a report on Monday, July 3rd. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 target price on shares of Wells Fargo & in a report on Friday, July 28th. Finally, Robert W. Baird restated a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & in a report on Tuesday, September 5th. Six equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Wells Fargo & currently has a consensus rating of “Hold” and an average target price of $57.20.
Shares of Wells Fargo & Company (NYSE WFC) opened at 55.85 on Tuesday. Wells Fargo & Company has a 52-week low of $44.49 and a 52-week high of $59.99. The firm has a 50-day moving average price of $54.18 and a 200-day moving average price of $53.54. The firm has a market cap of $275.22 billion, a price-to-earnings ratio of 14.43 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.03 EPS. Analysts predict that Wells Fargo & Company will post $3.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is presently 40.31%.
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Wells Fargo & Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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