Wells Fargo & Company (NYSE:WFC) Stock Holdings Decreased by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 18.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,461 shares of the financial services provider’s stock after selling 3,289 shares during the period. Gryphon Financial Partners LLC’s holdings in Wells Fargo & Company were worth $859,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WFC. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $25,000. Valued Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $32,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $34,000. Finally, Beaird Harris Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on WFC shares. Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI reduced their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday. BMO Capital Markets lifted their target price on shares of 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, Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Trading Up 3.7 %

Shares of WFC stock opened at $56.59 on Tuesday. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The firm’s fifty day simple moving average is $57.19 and its 200 day simple moving average is $57.97. The firm has a market capitalization of $192.62 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.27 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 announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 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.