Wells Fargo & Company $WFC Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in Wells Fargo & Company (NYSE:WFC) by 3.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 631,690 shares of the financial services provider’s stock after selling 19,765 shares during the period. ProShare Advisors LLC’s holdings in Wells Fargo & Company were worth $50,567,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of WFC. Capstone Financial Advisors Inc. raised its holdings in shares of Wells Fargo & Company by 3.5% in the second quarter. Capstone Financial Advisors Inc. now owns 3,354 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 113 shares during the last quarter. MFA Wealth Services boosted its holdings in Wells Fargo & Company by 0.7% during the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 115 shares during the last quarter. Hidden Cove Wealth Management LLC boosted its holdings in Wells Fargo & Company by 1.8% during the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 124 shares during the last quarter. Five Oceans Advisors grew its position in Wells Fargo & Company by 3.6% in the second quarter. Five Oceans Advisors now owns 3,625 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 125 shares in the last quarter. Finally, Pines Wealth Management LLC grew its position in Wells Fargo & Company by 1.5% in the second quarter. Pines Wealth Management LLC now owns 8,650 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WFC. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Thursday, October 15th. Royal Bank Of Canada reduced their price objective on shares of Wells Fargo & Company from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. Robert W. Baird raised their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. The Goldman Sachs Group set a $94.00 price objective on Wells Fargo & Company in a report on Tuesday, October 13th. Finally, Morgan Stanley lowered their target price on Wells Fargo & Company from $102.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $98.11.

Wells Fargo & Company Trading Down 0.0%

NYSE WFC opened at $83.39 on Monday. The company has a market cap of $250.32 billion, a PE ratio of 11.76, a PEG ratio of 0.89 and a beta of 0.93. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The stock has a 50 day moving average of $84.33 and a 200-day moving average of $83.70.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $21.87 billion for the quarter, compared to the consensus estimate of $22.30 billion. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 7.27 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, November 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.21%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.