Kathmere Capital Management LLC Decreases Position in Wells Fargo & Company (NYSE:WFC)

Kathmere Capital Management LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,592 shares of the financial services provider’s stock after selling 324 shares during the quarter. Kathmere Capital Management LLC’s holdings in Wells Fargo & Company were worth $451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arlington Trust Co LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $29,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $32,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WFC has been the subject of several analyst reports. Jefferies Financial Group boosted their price target on Wells Fargo & Company from $62.00 to $64.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods reduced their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Morgan Stanley upped their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Thirteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $59.91.

Wells Fargo & Company Stock Down 6.4 %

Shares of WFC stock traded down $3.62 during trading hours on Friday, reaching $53.26. The company had a trading volume of 27,642,566 shares, compared to its average volume of 16,512,784. The company has a market capitalization of $185.68 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 1.40 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The stock’s fifty day simple moving average is $58.87 and its 200 day simple moving average is $56.88.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. Wells Fargo & Company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be given a $0.40 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is presently 28.75%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.