Wells Fargo & Company (NYSE:WFC) Shares Sold by Mount Lucas Management LP

Mount Lucas Management LP decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,271 shares of the financial services provider’s stock after selling 458 shares during the period. Mount Lucas Management LP’s holdings in Wells Fargo & Company were worth $2,629,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Waddell & Associates LLC increased its stake in Wells Fargo & Company by 9.1% during the 2nd quarter. Waddell & Associates LLC now owns 7,142 shares of the financial services provider’s stock valued at $424,000 after buying an additional 598 shares during the period. Prestige Wealth Management Group LLC grew its stake in shares of Wells Fargo & Company by 564.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 10,654 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 9,050 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Wells Fargo & Company by 6.2% in the 2nd quarter. Ballentine Partners LLC now owns 37,991 shares of the financial services provider’s stock worth $2,256,000 after purchasing an additional 2,206 shares during the last quarter. Ellis Investment Partners LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $250,000. Finally, Koss Olinger Consulting LLC grew its stake in shares of Wells Fargo & Company by 581.1% in the 2nd quarter. Koss Olinger Consulting LLC now owns 39,501 shares of the financial services provider’s stock worth $2,346,000 after purchasing an additional 33,701 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on WFC shares. BMO Capital Markets raised their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and decreased their target price 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 target price for the company in a report on Tuesday, September 3rd. Finally, Evercore ISI decreased their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Stock Down 5.0 %

NYSE WFC traded down $2.86 during trading on Friday, reaching $54.00. The company’s stock had a trading volume of 21,853,782 shares, compared to its average volume of 17,798,791. 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 $188.26 billion, a PE ratio of 11.09, a PEG ratio of 1.43 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average price of $57.31 and a 200-day moving average price of $57.93.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $20.29 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts forecast 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 declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a $0.40 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.96%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.