Boit C F David Sells 3,000 Shares of Wells Fargo & Company (NYSE:WFC)

Boit C F David cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,163 shares of the financial services provider’s stock after selling 3,000 shares during the quarter. Boit C F David’s holdings in Wells Fargo & Company were worth $989,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Rothschild Investment Corp IL grew its position in Wells Fargo & Company by 1.0% in the first quarter. Rothschild Investment Corp IL now owns 24,086 shares of the financial services provider’s stock worth $900,000 after acquiring an additional 242 shares in the last quarter. Cape Cod Five Cents Savings Bank boosted its holdings in shares of Wells Fargo & Company by 4.6% in the fourth quarter. Cape Cod Five Cents Savings Bank now owns 5,625 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 245 shares during the period. American National Bank boosted its holdings in shares of Wells Fargo & Company by 8.5% in the first quarter. American National Bank now owns 3,163 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 248 shares during the period. Wade G W & Inc. boosted its holdings in shares of Wells Fargo & Company by 5.1% in the fourth quarter. Wade G W & Inc. now owns 5,319 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 259 shares during the period. Finally, Nicolet Advisory Services LLC boosted its holdings in shares of Wells Fargo & Company by 2.3% in the first quarter. Nicolet Advisory Services LLC now owns 11,859 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 262 shares during the period. 72.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. VNET Group reissued a “maintains” rating on shares of Wells Fargo & Company in a research note on Monday, June 26th. Raymond James upped their price target on Wells Fargo & Company from $48.00 to $51.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 3rd. HSBC began coverage on Wells Fargo & Company in a research report on Thursday, September 7th. They set a “hold” rating and a $45.00 price target on the stock. Morgan Stanley upped their price target on Wells Fargo & Company from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 1st. Finally, BMO Capital Markets reduced their price target on Wells Fargo & Company from $54.00 to $51.00 in a research report on Monday, July 17th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus price target of $48.39.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $42.95 on Friday. The company’s fifty day moving average price is $43.43 and its 200 day moving average price is $41.46. Wells Fargo & Company has a 1 year low of $35.25 and a 1 year high of $48.84. The company has a market capitalization of $157.14 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.14. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 0.84.

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

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, August 3rd. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 3.26%. Wells Fargo & Company’s dividend payout ratio is 35.00%.

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.