Wells Fargo & Company (NYSE:WFC) Shares Sold by ASB Consultores LLC

ASB Consultores LLC reduced its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 48.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,381 shares of the financial services provider's stock after selling 11,520 shares during the quarter. ASB Consultores LLC's holdings in Wells Fargo & Company were worth $735,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Valued Wealth Advisors LLC raised its position 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. Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $32,000. Beaird Harris Wealth Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $34,000. Finally, J.Safra Asset Management Corp boosted its holdings 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 worth $43,000 after acquiring 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

WFC traded down $0.01 during trading on Friday, reaching $55.79. 8,810,703 shares of the company were exchanged, compared to its average volume of 17,978,840. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. 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 firm has a 50 day moving average of $56.19 and a 200 day moving average of $57.88. The stock has a market cap of $194.50 billion, a P/E ratio of 11.33, a PEG ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 earnings per share. On average, sell-side 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. Investors of record on Friday, August 9th were given a $0.40 dividend. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.87%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 32.85%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WFC. BMO Capital Markets raised their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a "market perform" rating in a report on Thursday, July 11th. 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 note on Tuesday, September 3rd. Jefferies Financial Group lowered Wells Fargo & Company to a "hold" rating and lowered their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI cut their target price on Wells Fargo & Company from $67.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, September 6th. Finally, Keefe, Bruyette & Woods reduced their target price on 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. Twelve research 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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.