Auxier Asset Management Has $1.92 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Auxier Asset Management trimmed its position in Wells Fargo & Company (NYSE:WFC) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,302 shares of the financial services provider’s stock after selling 1,450 shares during the quarter. Auxier Asset Management’s holdings in Wells Fargo & Company were worth $1,918,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. John W. Brooker & Co. CPAs boosted its stake in Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares during the period. McAdam LLC lifted its holdings in shares of Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 178 shares in the last quarter. Prentice Wealth Management LLC boosted its position in shares of Wells Fargo & Company by 2.0% in the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after buying an additional 184 shares during the period. Clearstead Trust LLC raised its position in Wells Fargo & Company by 13.0% during the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after buying an additional 186 shares during the period. Finally, Fortitude Family Office LLC raised its position in Wells Fargo & Company by 3.4% during the second quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock valued at $350,000 after buying an additional 193 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WFC shares. Morgan Stanley lifted their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods lowered their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. BMO Capital Markets increased their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Evercore ISI lowered their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $56.26 on Friday. The business’s 50-day simple moving average is $56.19 and its 200-day simple moving average is $57.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The firm has a market cap of $196.14 billion, a price-to-earnings ratio of 11.55, a P/E/G ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter last year, the company posted $1.25 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. Wells Fargo & Company’s payout ratio is currently 32.85%.

Wells Fargo & Company 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.