Shayne & Jacobs LLC Sells 1,208 Shares of Wells Fargo & Company $WFC

Shayne & Jacobs LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 2.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 46,969 shares of the financial services provider’s stock after selling 1,208 shares during the period. Wells Fargo & Company accounts for 1.2% of Shayne & Jacobs LLC’s portfolio, making the stock its 14th largest position. Shayne & Jacobs LLC’s holdings in Wells Fargo & Company were worth $3,763,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Wealth Management Partners LLC grew its stake in shares of Wells Fargo & Company by 3.5% during the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after buying an additional 128 shares during the last quarter. Verum Partners LLC grew its stake in Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 128 shares in the last quarter. Motive Wealth Advisors grew its stake in Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after purchasing an additional 129 shares in the last quarter. Vivid Wealth Management LLC grew its stake in Wells Fargo & Company by 0.8% in the second quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 133 shares in the last quarter. Finally, Lynch & Associates IN grew its stake in Wells Fargo & Company by 2.0% in the second quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 135 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 2.7%

Wells Fargo & Company stock opened at $77.74 on Friday. The business has a fifty day moving average of $80.63 and a two-hundred day moving average of $76.51. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The firm has a market cap of $249.04 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.29 and a beta of 1.25. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 30.82%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. UBS Group dropped their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday. Dbs Bank raised Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Finally, Truist Financial increased their price objective on Wells Fargo & Company from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.41.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.