Texas Capital Bancshares Inc TX Sells 358 Shares of Wells Fargo & Company (NYSE:WFC)

Texas Capital Bancshares Inc TX lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,959 shares of the financial services provider’s stock after selling 358 shares during the period. Texas Capital Bancshares Inc TX’s holdings in Wells Fargo & Company were worth $532,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $25,000. Valued Wealth Advisors LLC grew its position in shares of 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 last quarter. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $32,000. Beaird Harris Wealth Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $34,000. Finally, J.Safra Asset Management Corp boosted its stake in Wells Fargo & Company by 704.3% in the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $55.90 on Friday. The firm has a market capitalization of $194.89 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.32 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The business’s 50-day moving average price is $55.74 and its 200-day moving average price is $57.81. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period in the previous year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WFC shares. Evercore ISI dropped their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Keefe, Bruyette & Woods dropped their price objective 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. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. BMO Capital Markets raised 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 report on Thursday, July 11th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and reduced their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.29.

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.