Capital Investment Advisors LLC Sells 2,059 Shares of Wells Fargo & Company (NYSE:WFC)

Capital Investment Advisors LLC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,098 shares of the financial services provider’s stock after selling 2,059 shares during the quarter. Capital Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Silicon Valley Capital Partners acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $26,000. Barrett & Company Inc. bought a new stake in Wells Fargo & Company during the first quarter worth approximately $25,000. Studio Investment Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the first quarter worth $28,000. Finally, Activest Wealth Management acquired a new stake in shares of Wells Fargo & Company in the first quarter worth $30,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Wells Fargo & Company Trading Down 0.2 %

Shares of NYSE WFC opened at $42.95 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a twelve month low of $35.25 and a twelve month high of $48.84. The company’s fifty day moving average is $43.43 and its 200-day moving average is $41.42. The stock has a market cap of $157.14 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 0.87 and a beta of 1.14.

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

Wells Fargo & Company Increases Dividend

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

Analyst Ratings Changes

WFC has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their price target on shares of Wells Fargo & Company from $54.00 to $51.00 in a report on Monday, July 17th. Atlantic Securities raised their target price on Wells Fargo & Company from $50.00 to $52.50 and gave the company an “overweight” rating in a report on Tuesday, August 1st. VNET Group reiterated a “maintains” rating on shares of Wells Fargo & Company in a report on Monday, June 26th. Wolfe Research lowered shares of Wells Fargo & Company from an “outperform” rating to a “peer perform” rating in a research report on Friday, July 7th. Finally, StockNews.com initiated coverage on shares of Wells Fargo & Company in a report on Thursday, August 17th. They issued a “hold” rating for the company. Nine 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’s stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus target price of $48.39.

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.