Jacobs & Co. CA Sells 200 Shares of Wells Fargo & Company (NYSE:WFC)

Jacobs & Co. CA reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,042 shares of the financial services provider’s stock after selling 200 shares during the period. Jacobs & Co. CA’s holdings in Wells Fargo & Company were worth $567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the second quarter worth $26,000. Core Wealth Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth $25,000. Valued Wealth Advisors LLC increased its holdings in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the period. Finally, Transcendent Capital Group LLC bought a new position in Wells Fargo & Company during the 4th quarter worth $32,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on WFC. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Evercore ISI upped their target price on Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Morgan Stanley decreased their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday. Finally, BMO Capital Markets lifted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Twelve research 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 company’s stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $60.41.

Wells Fargo & Company Stock Down 0.2 %

Shares of NYSE:WFC opened at $55.30 on Thursday. The firm has a market cap of $192.79 billion, a P/E ratio of 11.36, a PEG ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The business’s 50 day simple moving average is $55.52 and its two-hundred day simple moving average is $57.78. 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 (NYSE:WFC) last posted 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 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 the consensus estimate of $20.29 billion. During the same quarter last year, the firm posted $1.25 EPS. Wells Fargo & Company’s revenue was up .8% compared to the same quarter last year. As a group, research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.89%. Wells Fargo & Company’s payout ratio is presently 32.85%.

About Wells Fargo & Company

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.