GYL Financial Synergies LLC Sells 1,478 Shares of Wells Fargo & Company (NYSE:WFC)

GYL Financial Synergies LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 20.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,719 shares of the financial services provider’s stock after selling 1,478 shares during the quarter. GYL Financial Synergies LLC’s holdings in Wells Fargo & Company were worth $340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Slagle Financial LLC lifted its stake 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 valued at $6,822,000 after acquiring an additional 68,356 shares in the last quarter. Ballentine Partners LLC lifted its stake in Wells Fargo & Company by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after acquiring an additional 1,835 shares in the last quarter. Stonegate Investment Group LLC lifted its stake in Wells Fargo & Company by 5.2% during the 1st quarter. Stonegate Investment Group LLC now owns 38,925 shares of the financial services provider’s stock valued at $2,256,000 after acquiring an additional 1,911 shares in the last quarter. Wedmont Private Capital lifted its stake in Wells Fargo & Company by 16.4% during the 1st quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after acquiring an additional 21,496 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Wells Fargo & Company by 61.7% during the 4th quarter. Quadrant Capital Group LLC now owns 41,268 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 15,742 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 1.2 %

WFC stock traded up $0.67 during midday trading on Friday, hitting $56.63. The company had a trading volume of 1,151,147 shares, compared to its average volume of 17,912,420. 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 has a 52 week low of $38.38 and a 52 week high of $62.55. The stock’s 50 day moving average price is $57.56 and its 200 day moving average price is $57.29. The stock has a market cap of $197.43 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.40 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating 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 the consensus estimate of $20.29 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business’s revenue was up .8% on a year-over-year basis. As a group, equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be given a $0.40 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.83%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is presently 32.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on WFC shares. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Morgan Stanley boosted their price objective 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. JPMorgan Chase & Co. boosted their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Evercore ISI restated an “outperform” rating and issued a $67.00 price objective (down from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Thirteen analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.63.

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.