Wells Fargo & Company (NYSE:WFC) Stock Holdings Lowered by Athena Investment Management

Athena Investment Management cut its position in Wells Fargo & Company (NYSE:WFC) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,758 shares of the financial services provider’s stock after selling 332 shares during the quarter. Athena Investment Management’s holdings in Wells Fargo & Company were worth $580,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of WFC. 9258 Wealth Management LLC raised its stake in Wells Fargo & Company by 4.1% during the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock valued at $638,000 after acquiring an additional 516 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in Wells Fargo & Company by 93.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock worth $1,246,000 after purchasing an additional 12,778 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in Wells Fargo & Company by 11.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 124,265 shares of the financial services provider’s stock worth $6,116,000 after purchasing an additional 12,614 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Wells Fargo & Company by 2.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,847,713 shares of the financial services provider’s stock valued at $90,944,000 after purchasing an additional 51,521 shares in the last quarter. Finally, Advisor OS LLC increased its position in shares of Wells Fargo & Company by 13.4% during the 4th quarter. Advisor OS LLC now owns 7,146 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 845 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 1.2 %

Wells Fargo & Company stock opened at $53.95 on Wednesday. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $188.09 billion, a PE ratio of 11.08, a P/E/G ratio of 1.27 and a beta of 1.16. The firm’s 50 day moving average price is $57.05 and its two-hundred day moving average price is $57.97.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same period in the previous year, the company earned $1.25 EPS. The firm’s revenue was up .8% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 5.15 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.97%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WFC. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and cut their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI dropped their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.29.

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.