Wells Fargo & Company (NYSE:WFC) Holdings Lowered by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,732,044 shares of the financial services provider’s stock after selling 589,586 shares during the quarter. Wells Fargo & Company comprises 2.0% of Barrow Hanley Mewhinney & Strauss LLC’s investment portfolio, making the stock its 9th largest holding. Barrow Hanley Mewhinney & Strauss LLC owned approximately 0.28% of Wells Fargo & Company worth $577,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth about $25,000. Valued Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $32,000. Beaird Harris Wealth Management LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $34,000. Finally, J.Safra Asset Management Corp raised its stake in shares of Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 0.9 %

WFC stock opened at $56.29 on Friday. The company 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 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 one year low of $38.38 and a one year high of $62.55. The company’s 50 day moving average price is $56.19 and its two-hundred day moving average price is $57.89.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal 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 dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.84%. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on WFC shares. BMO Capital Markets raised their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and cut their price objective for the company from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group lowered their target price on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Evercore ISI reduced their price target on shares of 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. Finally, Morgan Stanley increased their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $60.29.

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.