Schwerin Boyle Capital Management Inc. Sells 1,950 Shares of Wells Fargo & Company (NYSE:WFC)

Schwerin Boyle Capital Management Inc. decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 876,884 shares of the financial services provider’s stock after selling 1,950 shares during the quarter. Wells Fargo & Company comprises 5.5% of Schwerin Boyle Capital Management Inc.’s holdings, making the stock its 4th largest holding. Schwerin Boyle Capital Management Inc.’s holdings in Wells Fargo & Company were worth $52,078,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Slagle Financial LLC raised its holdings in Wells Fargo & Company by 97.3% in the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after acquiring an additional 68,356 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of Wells Fargo & Company by 5.4% during the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after purchasing an additional 1,835 shares in the last quarter. Wedmont Private Capital grew its stake in shares of Wells Fargo & Company by 16.4% during the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after purchasing an additional 21,496 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Wells Fargo & Company by 28.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock valued at $27,441,000 after buying an additional 106,260 shares during the last quarter. Finally, Evoke Wealth LLC raised its stake in Wells Fargo & Company by 34.3% in the fourth quarter. Evoke Wealth LLC now owns 7,224 shares of the financial services provider’s stock valued at $356,000 after buying an additional 1,846 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WFC shares. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday, September 3rd. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. BMO Capital Markets lifted their target price on 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. Finally, Evercore ISI decreased their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Trading Up 0.9 %

Shares of WFC stock opened at $56.29 on Friday. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The firm has a market capitalization of $196.24 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The stock has a fifty day moving average of $56.19 and a two-hundred day moving average of $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.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping 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 firm had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, research analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

About Wells Fargo & Company

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.