Wells Fargo & Company (NYSE:WFC) Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. cut its position in Wells Fargo & Company (NYSE:WFC) by 7.9% in the second quarter, Holdings Channel reports. The firm owned 956,640 shares of the financial services provider’s stock after selling 82,328 shares during the period. Wells Fargo & Company accounts for approximately 1.1% of Deprince Race & Zollo Inc.’s holdings, making the stock its 6th biggest position. Deprince Race & Zollo Inc.’s holdings in Wells Fargo & Company were worth $43,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cambria Investment Management L.P. boosted its position in shares of Wells Fargo & Company by 16.1% in the 2nd quarter. Cambria Investment Management L.P. now owns 65,448 shares of the financial services provider’s stock valued at $2,964,000 after purchasing an additional 9,072 shares during the period. Stephens Inc. AR boosted its position in shares of Wells Fargo & Company by 116.6% in the 2nd quarter. Stephens Inc. AR now owns 313,878 shares of the financial services provider’s stock valued at $14,233,000 after purchasing an additional 168,941 shares during the period. Keybank National Association OH boosted its position in shares of Wells Fargo & Company by 101.7% in the 2nd quarter. Keybank National Association OH now owns 1,193,848 shares of the financial services provider’s stock valued at $54,070,000 after purchasing an additional 602,098 shares during the period. Madison Wealth Management boosted its position in shares of Wells Fargo & Company by 15.7% in the 2nd quarter. Madison Wealth Management now owns 13,659 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 1,855 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Wells Fargo & Company by 3.8% in the 2nd quarter. Legal & General Group Plc now owns 23,553,207 shares of the financial services provider’s stock valued at $1,066,724,000 after purchasing an additional 863,093 shares during the period. 70.82% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on WFC. Raymond James upped their target price on Wells Fargo & Company from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 26th. TheStreet downgraded Wells Fargo & Company from a “b” rating to a “c+” rating in a research note on Friday, July 30th. Bank of America raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Friday, June 4th. Deutsche Bank Aktiengesellschaft upped their price objective on Wells Fargo & Company from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, September 1st. Finally, Barclays upped their price objective on Wells Fargo & Company from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, July 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $47.52.

NYSE WFC traded up $0.26 during mid-day trading on Monday, hitting $48.18. The stock had a trading volume of 951,573 shares, compared to its average volume of 30,450,369. Wells Fargo & Company has a 52-week low of $20.76 and a 52-week high of $51.41. The company has a market cap of $197.85 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 0.99 and a beta of 1.36. The company has a 50 day simple moving average of $46.68 and a 200 day simple moving average of $44.74. The company has a quick ratio of 0.81, a current ratio of 0.83 and a debt-to-equity ratio of 1.04.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, July 13th. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.40. Wells Fargo & Company had a return on equity of 9.85% and a net margin of 19.79%. The firm had revenue of $20.27 billion during the quarter, compared to the consensus estimate of $17.69 billion. During the same period last year, the business posted ($0.66) EPS. Wells Fargo & Company’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities analysts anticipate that Wells Fargo & Company will post 4.37 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Thursday, August 5th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.10. Wells Fargo & Company’s dividend payout ratio is 145.45%.

Wells Fargo & Company Profile

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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