Bradley Foster & Sargent Inc. CT Trims Holdings in Wells Fargo & Company (NYSE:WFC)

Bradley Foster & Sargent Inc. CT decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,539 shares of the financial services provider’s stock after selling 926 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Wells Fargo & Company were worth $4,189,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 9258 Wealth Management LLC raised its position in Wells Fargo & Company by 4.1% during the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock worth $638,000 after buying an additional 516 shares during the last quarter. Gryphon Financial Partners LLC raised its position in Wells Fargo & Company by 93.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock worth $1,246,000 after buying an additional 12,778 shares during the last quarter. Trexquant Investment LP purchased a new position in Wells Fargo & Company during the 4th quarter worth $6,876,000. CreativeOne Wealth LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $232,000. Finally, Assetmark Inc. raised its position in Wells Fargo & Company by 7.2% during the 4th quarter. Assetmark Inc. now owns 336,533 shares of the financial services provider’s stock worth $16,564,000 after buying an additional 22,492 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research analyst reports. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and cut their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. Evercore ISI lowered their price objective on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. BMO Capital Markets increased their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Finally, The Goldman Sachs Group cut their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Trading Down 0.5 %

NYSE WFC opened at $54.26 on Thursday. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company’s 50 day moving average price is $56.28 and its 200 day moving average price is $57.89. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market capitalization of $189.17 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 earnings per share. On average, sell-side analysts predict that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.