Wells Fargo & Company (NYSE:WFC) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,095 shares of the financial services provider’s stock after selling 341 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $3,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Aprio Wealth Management LLC bought a new stake in Wells Fargo & Company in the second quarter valued at $270,000. Constitution Capital LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter worth about $226,000. Keel Point LLC lifted its position in Wells Fargo & Company by 20.6% in the 2nd quarter. Keel Point LLC now owns 8,187 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 1,397 shares during the last quarter. Lantz Financial LLC boosted its stake in Wells Fargo & Company by 5.8% during the 2nd quarter. Lantz Financial LLC now owns 16,483 shares of the financial services provider’s stock valued at $703,000 after purchasing an additional 908 shares during the period. Finally, First Bank & Trust grew its position in Wells Fargo & Company by 1.0% in the 2nd quarter. First Bank & Trust now owns 23,900 shares of the financial services provider’s stock worth $1,020,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 72.47% of the company’s stock.

Wells Fargo & Company Stock Down 0.9 %

WFC traded down $0.37 during midday trading on Tuesday, hitting $43.06. 7,973,484 shares of the company’s stock traded hands, compared to its average volume of 20,307,547. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $157.55 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.14. Wells Fargo & Company has a one year low of $35.25 and a one year high of $48.84. The stock’s fifty day simple moving average is $43.43 and its 200-day simple moving average is $41.42.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.16 by $0.09. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $20.11 billion. Wells Fargo & Company had a net margin of 16.18% and a return on equity of 11.15%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 4.84 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were paid a dividend of $0.35 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 3rd. Wells Fargo & Company’s dividend payout ratio is presently 35.00%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WFC shares. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $43.75 price objective for the company. in a research report on Monday, July 17th. Wolfe Research cut Wells Fargo & Company from an “outperform” rating to a “peer perform” rating in a research note on Friday, July 7th. VNET Group restated a “maintains” rating on shares of Wells Fargo & Company in a research note on Monday, June 26th. BMO Capital Markets decreased their target price on shares of Wells Fargo & Company from $54.00 to $51.00 in a research report on Monday, July 17th. Finally, Raymond James raised their target price on shares of Wells Fargo & Company from $48.00 to $51.00 and gave the company a “strong-buy” rating in a research note on Monday, July 3rd. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.39.

Wells Fargo & Company Company Profile

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.