Wells Fargo & Company (NYSE:WFC) Shares Sold by Peoples Bank KS

Peoples Bank KS lowered its position in Wells Fargo & Company (NYSE:WFC) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,909 shares of the financial services provider’s stock after selling 480 shares during the quarter. Wells Fargo & Company comprises approximately 1.7% of Peoples Bank KS’s investment portfolio, making the stock its 12th biggest holding. Peoples Bank KS’s holdings in Wells Fargo & Company were worth $2,480,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WFC. Campbell & CO Investment Adviser LLC bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $594,000. Cetera Advisor Networks LLC lifted its holdings in shares of Wells Fargo & Company by 2.6% in the fourth quarter. Cetera Advisor Networks LLC now owns 348,187 shares of the financial services provider’s stock valued at $17,138,000 after buying an additional 8,943 shares during the period. Exencial Wealth Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 9.0% in the fourth quarter. Exencial Wealth Advisors LLC now owns 9,472 shares of the financial services provider’s stock valued at $466,000 after buying an additional 782 shares during the period. Stephens Inc. AR boosted its stake in Wells Fargo & Company by 2.0% during the fourth quarter. Stephens Inc. AR now owns 97,338 shares of the financial services provider’s stock valued at $4,791,000 after buying an additional 1,931 shares in the last quarter. Finally, Angeles Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth about $223,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 3.6 %

NYSE WFC traded up $1.98 during trading on Friday, hitting $56.96. 14,582,228 shares of the company traded hands, compared to its average volume of 18,007,127. Wells Fargo & Company has a 12 month low of $38.58 and a 12 month high of $62.55. The business has a fifty day simple moving average of $55.43 and a 200 day simple moving average of $57.76. The company has a market capitalization of $198.58 billion, a P/E ratio of 11.62, a PEG ratio of 1.32 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last posted its 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 return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same period in the previous year, the company earned $1.25 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, 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 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 2.81%. Wells Fargo & Company’s payout ratio is currently 32.85%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday. Evercore ISI increased their price objective on Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods dropped their price target on 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, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and lowered their price target for the company from $62.00 to $59.00 in a report on Friday, August 16th. 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. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $60.41.

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.