Wells Fargo & Company $WFC Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 36.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,260 shares of the financial services provider’s stock after selling 15,742 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $2,182,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WFC. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at about $658,000. WINTON GROUP Ltd bought a new position in shares of Wells Fargo & Company during the second quarter valued at about $16,259,000. Citizens Financial Group Inc. RI purchased a new position in Wells Fargo & Company during the second quarter worth about $25,922,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Wells Fargo & Company during the second quarter worth about $1,116,000. Finally, Whalen Wealth Management Inc. purchased a new position in Wells Fargo & Company during the second quarter worth about $1,190,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WFC shares. 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 report on Wednesday, October 14th. UBS Group dropped their target price on shares of Wells Fargo & Company from $104.00 to $102.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Citigroup dropped their target price on shares of Wells Fargo & Company from $90.00 to $88.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. HSBC started coverage on Wells Fargo & Company in a research note on Monday, September 28th. They issued a “buy” rating and a $108.00 target price on the stock. Finally, Bank of America upped their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.08.

Wells Fargo & Company Price Performance

Shares of WFC opened at $82.72 on Wednesday. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The stock’s fifty day moving average price is $84.43 and its two-hundred day moving average price is $83.87. The firm has a market cap of $250.14 billion, a PE ratio of 11.67 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. The firm had revenue of $21.87 billion for the quarter, compared to the consensus estimate of $22.30 billion. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS. Sell-side analysts anticipate that Wells Fargo & Company will post 7.27 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & 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.