Wells Fargo & Company $WFC Stake Lessened by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 53.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,964 shares of the financial services provider’s stock after selling 146,488 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Wells Fargo & Company were worth $10,092,000 as of its most recent SEC filing.

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

Wells Fargo & Company Stock Performance

NYSE WFC opened at $86.35 on Monday. The firm has a market cap of $276.61 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.19 and a beta of 1.25. The company has a 50 day moving average of $81.89 and a 200-day moving average of $77.80. 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 has a 1-year low of $58.42 and a 1-year high of $87.47.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. The company had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.42 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Analyst Ratings Changes

WFC has been the subject of a number of analyst reports. Bank of America raised their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Citigroup raised their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday. Finally, UBS Group cut their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & 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.