Wells Fargo & Company (NYSE:WFC) Shares Sold by Mcdonald Capital Investors Inc. CA

Mcdonald Capital Investors Inc. CA lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 10.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,035,405 shares of the financial services provider’s stock after selling 125,190 shares during the period. Wells Fargo & Company makes up 3.3% of Mcdonald Capital Investors Inc. CA’s portfolio, making the stock its 14th biggest position. Mcdonald Capital Investors Inc. CA’s holdings in Wells Fargo & Company were worth $44,191,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Barrett & Company Inc. purchased a new position in Wells Fargo & Company in the 1st quarter valued at about $25,000. Silicon Valley Capital Partners purchased a new position in Wells Fargo & Company in the 4th quarter valued at about $26,000. Studio Investment Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the 1st quarter valued at approximately $28,000. Finally, Activest Wealth Management purchased a new position in shares of Wells Fargo & Company during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 72.47% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of several research analyst reports. HSBC initiated coverage on Wells Fargo & Company in a research note on Thursday, September 7th. They set a “hold” rating and a $45.00 target price for the company. VNET Group reaffirmed a “maintains” rating on shares of Wells Fargo & Company in a research report on Monday, June 26th. Piper Sandler increased their price target on shares of Wells Fargo & Company from $43.00 to $45.00 in a research report on Monday, July 17th. Wolfe Research cut shares of Wells Fargo & Company from an “outperform” rating to a “peer perform” rating in a research report on Friday, July 7th. Finally, Citigroup raised their price objective on Wells Fargo & Company from $50.00 to $52.00 in a research note on Sunday, July 16th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.39.

Wells Fargo & Company Stock Performance

Shares of WFC traded down $0.01 during mid-day trading on Monday, reaching $42.94. 703,179 shares of the company’s stock traded hands, compared to its average volume of 20,291,592. Wells Fargo & Company has a 12 month low of $35.25 and a 12 month high of $48.84. The business’s 50-day moving average price is $43.43 and its 200-day moving average price is $41.42. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $157.11 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.14.

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

Wells Fargo & Company Increases Dividend

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

About Wells Fargo & Company

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.