Wells Fargo & Company (NYSE:WFC) Shares Sold by Beaton Management Co. Inc.

Beaton Management Co. Inc. lessened its position in Wells Fargo & Company (NYSE:WFC) by 5.8% in the 2nd quarter, Holdings Channel reports. The fund owned 11,385 shares of the financial services provider’s stock after selling 700 shares during the period. Beaton Management Co. Inc.’s holdings in Wells Fargo & Company were worth $516,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Centerpoint Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter worth $25,000. Loomis Sayles & Co. L P acquired a new stake in shares of Wells Fargo & Company in the 1st quarter worth $27,000. MV Capital Management Inc. lifted its stake in shares of Wells Fargo & Company by 561.5% in the 2nd quarter. MV Capital Management Inc. now owns 602 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 511 shares during the period. Isthmus Partners LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at about $27,000. Finally, Holloway Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 547.0% in the 2nd quarter. Holloway Wealth Management LLC now owns 647 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 547 shares in the last quarter. Institutional investors own 70.82% of the company’s stock.

A number of equities analysts have recently issued reports on WFC shares. Keefe, Bruyette & Woods started coverage on shares of Wells Fargo & Company in a report on Wednesday, July 7th. They issued an “outperform” rating and a $57.00 price target for the company. Barclays increased their price target on shares of Wells Fargo & Company from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, July 15th. Raymond James increased their price target on shares of Wells Fargo & Company from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 26th. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Finally, Bank of America upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a report on Friday, June 4th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $47.52.

Shares of NYSE WFC traded up $0.12 during mid-day trading on Monday, reaching $48.04. 875,406 shares of the company’s stock were exchanged, compared to its average volume of 30,450,369. The business has a fifty day simple moving average of $46.68 and a 200 day simple moving average of $44.74. Wells Fargo & Company has a twelve month low of $20.76 and a twelve month high of $51.41. The firm has a market capitalization of $197.27 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.99 and a beta of 1.36. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 13th. The financial services provider reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.40. The company had revenue of $20.27 billion during the quarter, compared to the consensus estimate of $17.69 billion. Wells Fargo & Company had a return on equity of 9.85% and a net margin of 19.79%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.66) EPS. Equities research analysts predict that Wells Fargo & Company will post 4.37 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 6th were issued a $0.20 dividend. The ex-dividend date was Thursday, August 5th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.67%. Wells Fargo & Company’s payout ratio is currently 145.45%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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