Mountain Pacific Investment Advisers LLC Reduces Stock Position in Wells Fargo & Company (NYSE:WFC)

Mountain Pacific Investment Advisers LLC cut its position in Wells Fargo & Company (NYSE:WFC) by 7.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,132 shares of the financial services provider’s stock after selling 1,531 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Wells Fargo & Company were worth $1,024,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Slagle Financial LLC raised its position in Wells Fargo & Company by 97.3% during the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after buying an additional 68,356 shares during the last quarter. Ballentine Partners LLC lifted its position in 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 valued at $2,074,000 after purchasing an additional 1,835 shares during the period. Wedmont Private Capital boosted its holdings in Wells Fargo & Company by 16.4% in the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after purchasing an additional 21,496 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Wells Fargo & Company by 28.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock worth $27,441,000 after purchasing an additional 106,260 shares during the period. Finally, FORVIS Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 154.2% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider’s stock valued at $1,578,000 after buying an additional 16,515 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.4 %

NYSE WFC opened at $57.53 on Thursday. The business has a fifty day moving average price of $55.22 and a 200 day moving average price of $57.75. 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 company has a market cap of $200.57 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a one year low of $38.58 and a one year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.14 EPS 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. Stockholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is currently 32.85%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their target price 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. BMO Capital Markets raised their price objective on shares of 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. Morgan Stanley cut their target price on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday. Twelve analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $60.65.

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.