Wells Fargo & Company $WFC Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 471,073 shares of the financial services provider’s stock after selling 16,239 shares during the quarter. Wells Fargo & Company accounts for about 1.3% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 16th biggest position. Clifford Swan Investment Counsel LLC’s holdings in Wells Fargo & Company were worth $37,742,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. CBIZ Investment Advisory Services LLC increased its holdings in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the second quarter worth $27,000. Motco boosted its stake in Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth about $29,000. Finally, 1248 Management LLC bought a new position in shares of Wells Fargo & Company during the first quarter worth about $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on WFC. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday. Truist Financial raised their price target on shares of Wells Fargo & Company from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Finally, TD Cowen raised their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Price Performance

NYSE WFC opened at $83.91 on Thursday. The company has a 50-day moving average price of $81.61 and a two-hundred day moving average price of $77.29. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47. The stock has a market cap of $268.79 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The company had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared 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. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Wells Fargo & Company Company Profile

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.