Koshinski Asset Management Inc. Sells 1,102 Shares of Wells Fargo & Company (NYSE:WFC)

Koshinski Asset Management Inc. decreased its position in Wells Fargo & Company (NYSE:WFC) by 6.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,179 shares of the financial services provider’s stock after selling 1,102 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Wells Fargo & Company were worth $634,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Landmark Wealth Management LLC bought a new stake in Wells Fargo & Company during the first quarter worth about $40,000. Gibson Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Financial Management Professionals Inc. raised its holdings in shares of Wells Fargo & Company by 193.3% in the first quarter. Financial Management Professionals Inc. now owns 522 shares of the financial services provider’s stock valued at $25,000 after buying an additional 344 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Wells Fargo & Company during the 1st quarter worth about $25,000. Finally, Toth Financial Advisory Corp grew its holdings in Wells Fargo & Company by 2,142.9% during the 1st quarter. Toth Financial Advisory Corp now owns 628 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 72.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WFC. Credit Suisse Group dropped their target price on shares of Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, July 18th. Piper Sandler set a $48.00 target price on Wells Fargo & Company in a research report on Monday, June 20th. Deutsche Bank Aktiengesellschaft decreased their price target 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. Barclays cut their target price on shares of Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating on the stock in a research report on Monday, July 18th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 18th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.97.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $41.52 on Friday. The firm has a market cap of $157.49 billion, a P/E ratio of 9.96, a PEG ratio of 1.06 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $36.54 and a twelve month high of $60.30. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.81. The firm’s 50 day moving average price is $43.88 and its two-hundred day moving average price is $44.46.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). The company had revenue of $17.03 billion for 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 company’s revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 4 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 5th were given a dividend of $0.30 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Thursday, August 4th. Wells Fargo & Company’s dividend payout ratio is currently 28.78%.

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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