Beacon Investment Advisory Services Inc. cut its position in Wells Fargo & Company (NYSE:WFC) by 6.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,032 shares of the financial services provider’s stock after selling 500 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Wells Fargo & were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Delphi Private Advisors LLC increased its holdings in shares of Wells Fargo & by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,461 shares during the last quarter. Brick & Kyle Associates increased its holdings in shares of Wells Fargo & by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the last quarter. Stelac Advisory Services LLC bought a new position in shares of Wells Fargo & in the 2nd quarter worth $104,000. Clear Investment Research LLC bought a new position in shares of Wells Fargo & in the 2nd quarter worth $121,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in shares of Wells Fargo & in the 1st quarter worth $124,000. Institutional investors and hedge funds own 75.00% of the company’s stock.
A number of equities analysts have recently commented on WFC shares. Keefe, Bruyette & Woods set a $61.00 price target on shares of Wells Fargo & and gave the stock a “buy” rating in a report on Friday, August 25th. UBS AG set a $57.00 price target on shares of Wells Fargo & and gave the stock a “neutral” rating in a report on Friday, October 6th. BMO Capital Markets increased their price target on shares of Wells Fargo & from $49.00 to $50.00 and gave the stock a “market perform” rating in a report on Monday, October 16th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Wells Fargo & in a report on Wednesday, October 11th. Finally, Robert W. Baird reissued a “buy” rating and issued a $58.00 price target on shares of Wells Fargo & in a report on Tuesday, September 5th. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $57.20.
Wells Fargo & Company (NYSE:WFC) opened at $56.35 on Friday. The stock has a market cap of $279,718.22, a PE ratio of 13.61, a PEG ratio of 1.36 and a beta of 0.97. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The business had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. During the same period last year, the business earned $1.03 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, November 2nd. This represents a $1.56 dividend on an annualized basis and a yield of 2.77%. Wells Fargo &’s dividend payout ratio (DPR) is currently 40.31%.
About Wells Fargo &
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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