BBR Partners LLC Cuts Position in Wells Fargo & Company (NYSE:WFC)

BBR Partners LLC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 15.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,786 shares of the financial services provider’s stock after selling 3,189 shares during the quarter. BBR Partners LLC’s holdings in Wells Fargo & Company were worth $1,056,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth about $32,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $34,000. Beaird Harris Wealth Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $34,000. Finally, VisionPoint Advisory Group LLC grew its stake in shares of Wells Fargo & Company by 180.4% in the 4th quarter. VisionPoint Advisory Group LLC now owns 715 shares of the financial services provider’s stock valued at $35,000 after buying an additional 460 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Evercore ISI restated an “outperform” rating and issued a $67.00 target price (down previously from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and lowered their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday. Finally, Morgan Stanley increased their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $60.41.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $56.86 on Friday. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The stock has a market capitalization of $198.23 billion, a PE ratio of 11.68, a PEG ratio of 1.43 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a 50-day simple moving average of $57.42 and a 200-day simple moving average of $57.87.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is presently 32.85%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.