Wells Fargo & Company (NYSE:WFC) Stock Holdings Decreased by Mystic Asset Management Inc.

Mystic Asset Management Inc. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 0.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,814 shares of the financial services provider’s stock after selling 243 shares during the period. Mystic Asset Management Inc.’s holdings in Wells Fargo & Company were worth $1,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Spectrum Wealth Counsel LLC lifted its holdings in Wells Fargo & Company by 7.7% during the 2nd quarter. Spectrum Wealth Counsel LLC now owns 9,566 shares of the financial services provider’s stock worth $568,000 after buying an additional 681 shares during the last quarter. Element Capital Management LLC bought a new position in Wells Fargo & Company during the second quarter worth $10,363,000. Williams Financial LLC bought a new position in Wells Fargo & Company during the second quarter worth $829,000. J.W. Cole Advisors Inc. increased its stake in Wells Fargo & Company by 5.1% during the second quarter. J.W. Cole Advisors Inc. now owns 31,705 shares of the financial services provider’s stock valued at $1,883,000 after purchasing an additional 1,551 shares during the last quarter. Finally, Prosperity Consulting Group LLC raised its holdings in shares of Wells Fargo & Company by 7.5% during the second quarter. Prosperity Consulting Group LLC now owns 4,993 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 349 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $52.78 on Friday. The stock has a market cap of $179.65 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.27 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The stock’s 50 day moving average price is $56.60 and its 200 day moving average price is $57.91.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders 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 annualized dividend and a dividend yield of 3.03%. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WFC. Keefe, Bruyette & Woods lowered their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report 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 target on the stock in a research report on Tuesday, September 3rd. 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 report on Thursday, July 11th. The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Evercore ISI reduced their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company 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.