Wells Fargo & Company (NYSE:WFC) Shares Sold by Xponance Inc.

Xponance Inc. lowered its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 553,758 shares of the financial services provider's stock after selling 23,918 shares during the quarter. Xponance Inc.'s holdings in Wells Fargo & Company were worth $32,888,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Slagle Financial LLC increased its position in Wells Fargo & Company by 97.3% during the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider's stock worth $6,822,000 after buying an additional 68,356 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Wells Fargo & Company by 5.4% in the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider's stock valued at $2,074,000 after buying an additional 1,835 shares during the last quarter. Wedmont Private Capital raised its position in shares of Wells Fargo & Company by 16.4% in the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider's stock valued at $8,805,000 after buying an additional 21,496 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Wells Fargo & Company by 28.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider's stock valued at $27,441,000 after buying an additional 106,260 shares during the period. Finally, Evoke Wealth LLC boosted its position in Wells Fargo & Company by 34.3% during the fourth quarter. Evoke Wealth LLC now owns 7,224 shares of the financial services provider's stock worth $356,000 after acquiring an additional 1,846 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 2.1 %

Shares of WFC traded down $1.19 during midday trading on Monday, reaching $55.10. 14,758,876 shares of the company were exchanged, compared to its average volume of 18,158,496. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The stock has a 50-day moving average price of $56.13 and a 200-day moving average price of $57.88. 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 company has a market cap of $192.10 billion, a price-to-earnings ratio of 11.31, a P/E/G 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. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. 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 company posted $1.25 EPS. Wells Fargo & Company's revenue for the quarter was up .8% on a year-over-year basis. Research analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. 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 2.90%. Wells Fargo & Company's dividend payout ratio is 32.85%.

Analysts Set New Price Targets

A number of research analysts have weighed in on WFC shares. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. BMO Capital Markets lifted their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a "market perform" rating in a report on Thursday, July 11th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, July 30th. Evercore ISI decreased their target price on shares of 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, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target for the company in a research report on Tuesday, September 3rd. Twelve investment 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.29.

Wells Fargo & Company 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.