Fulton Bank N.A. Sells 1,121 Shares of Wells Fargo & Company (NYSE:WFC)

Fulton Bank N.A. trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 5.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,249 shares of the financial services provider’s stock after selling 1,121 shares during the quarter. Fulton Bank N.A.’s holdings in Wells Fargo & Company were worth $715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Adirondack Trust Co. raised its holdings in shares of Wells Fargo & Company by 50.0% in the second quarter. Adirondack Trust Co. now owns 2,669 shares of the financial services provider’s stock worth $104,000 after buying an additional 890 shares during the period. Hellman Jordan Management Co. Inc. MA purchased a new stake in shares of Wells Fargo & Company in the first quarter worth approximately $1,158,000. Vise Technologies Inc. purchased a new stake in shares of Wells Fargo & Company in the first quarter worth approximately $269,000. Rehmann Capital Advisory Group raised its holdings in shares of Wells Fargo & Company by 4.6% in the first quarter. Rehmann Capital Advisory Group now owns 23,799 shares of the financial services provider’s stock worth $1,153,000 after buying an additional 1,053 shares during the period. Finally, Astoria Portfolio Advisors LLC. purchased a new stake in shares of Wells Fargo & Company in the first quarter worth approximately $259,000. 72.23% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.5 %

Wells Fargo & Company stock opened at $43.94 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $166.67 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.08 and a beta of 1.16. Wells Fargo & Company has a 1-year low of $36.54 and a 1-year high of $60.30. The business has a fifty day moving average price of $43.59 and a 200-day moving average price of $44.65.

Wells Fargo & Company (NYSE:WFCGet Rating) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The business had revenue of $17.03 billion during the quarter, compared to analyst estimates of $17.54 billion. Wells Fargo & Company had a return on equity of 10.67% and a net margin of 22.52%. The firm’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. Equities research analysts forecast that Wells Fargo & Company will post 4 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were given a $0.30 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.73%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup reduced their price target on Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Credit Suisse Group reduced their price objective on Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Monday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, September 12th. Morgan Stanley raised their price objective on Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 18th. Finally, Royal Bank of Canada reduced their price objective on Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating on the stock in a report on Friday, July 1st. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.97.

About Wells Fargo & Company

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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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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