NBW Capital LLC Sells 2,224 Shares of Wells Fargo & Company (NYSE:WFC)

NBW Capital LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,461 shares of the financial services provider’s stock after selling 2,224 shares during the period. NBW Capital LLC’s holdings in Wells Fargo & Company were worth $6,323,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WFC. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $32,000. Beaird Harris Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Valued Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its stake in shares of Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 648 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 1.7 %

NYSE WFC opened at $54.18 on Wednesday. The stock has a 50 day moving average price of $56.01 and a 200-day moving average price of $57.86. Wells Fargo & Company has a one year low of $38.38 and a one year 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 company has a market capitalization of $184.42 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.32 and a beta of 1.16.

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

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.95%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods decreased their price objective on shares of 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. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Morgan Stanley upped their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus 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.