Wells Fargo & Company (NYSE:WFC) Stock Position Reduced by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 4.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,671 shares of the financial services provider’s stock after selling 1,738 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $2,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth $25,000. Valued Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Finally, J.Safra Asset Management Corp raised its stake in Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 648 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFC has been the subject of a number of research reports. 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 cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. BMO Capital Markets upped their price objective 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. The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, 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 report on Friday, September 6th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Stock 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 company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The business’s fifty day moving average is $56.19 and its 200-day moving average is $57.89. The stock has a market cap 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.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $20.29 billion. During the same period in the previous year, the company earned $1.25 earnings per share. Wells Fargo & Company’s revenue was up .8% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

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