Massmutual Trust Co. FSB ADV Decreases Stock Position in Wells Fargo & Company (NYSE:WFC)

Massmutual Trust Co. FSB ADV cut its stake in Wells Fargo & Company (NYSE:WFC) by 3.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,588 shares of the financial services provider’s stock after selling 776 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Wells Fargo & Company were worth $1,389,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP boosted its stake in Wells Fargo & Company by 3,295.6% during the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after buying an additional 2,404,898 shares during the period. 1832 Asset Management L.P. increased its holdings in Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after purchasing an additional 2,349,595 shares during the period. Rokos Capital Management LLP grew its holdings in shares of Wells Fargo & Company by 141.6% during the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after acquiring an additional 1,536,152 shares during the period. Mn Services Vermogensbeheer B.V. bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth approximately $84,819,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of Wells Fargo & Company by 38.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after purchasing an additional 1,415,647 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WFC shares. Morgan Stanley lowered their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday. 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. Keefe, Bruyette & Woods reduced their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Finally, Jefferies Financial Group lowered 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. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.41.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $54.98 on Friday. The firm has a 50 day moving average of $55.43 and a 200 day moving average of $57.76. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a market capitalization of $191.68 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released 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 firm had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side 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 declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is 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.