Interchange Capital Partners LLC Trims Position in Wells Fargo & Company $WFC

Key Points

• Interchange Capital Partners LLC reduced its stake in Wells Fargo by 77.5%, now holding 1,883 shares valued at approximately $151,000.
• Wells Fargo's stock price has increased by 7.1%, opening at $84.51, and the company reported $1.66 EPS, exceeding analysts' estimates of $1.55.
• The company recently increased its quarterly dividend from $0.40 to $0.45, representing an annualized yield of 2.1% and a dividend payout ratio of 30.82%.

Interchange Capital Partners LLC lessened its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 77.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,883 shares of the financial services provider's stock after selling 6,469 shares during the period. Interchange Capital Partners LLC's holdings in Wells Fargo & Company were worth $151,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Wealth Management Partners LLC increased its position in Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider's stock valued at $313,000 after purchasing an additional 128 shares during the period. Verum Partners LLC increased its position in Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider's stock valued at $582,000 after purchasing an additional 128 shares during the period. Motive Wealth Advisors increased its position in Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider's stock valued at $293,000 after purchasing an additional 129 shares during the period. Vivid Wealth Management LLC increased its position in Wells Fargo & Company by 0.8% during the 2nd quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider's stock valued at $1,381,000 after purchasing an additional 133 shares during the period. Finally, Lynch & Associates IN increased its position in Wells Fargo & Company by 2.0% during the 2nd quarter. Lynch & Associates IN now owns 6,729 shares of the financial services provider's stock valued at $539,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 7.1%

WFC stock opened at $84.51 on Wednesday. The firm has a 50 day moving average of $80.79 and a 200 day moving average of $76.67. The stock has a market capitalization of $270.71 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $86.65.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. The company had revenue of $21.44 billion during the quarter, compared to analysts' expectations of $21.11 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. Wells Fargo & Company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.42 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company's dividend payout ratio (DPR) is 30.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WFC shares. Weiss Ratings raised shares of Wells Fargo & Company from a "hold (c)" rating to a "buy (b)" rating in a research report on Wednesday, October 8th. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Morgan Stanley downgraded shares of Wells Fargo & Company from an "overweight" rating to an "equal weight" rating and lifted their price objective for the stock from $87.00 to $90.00 in a research report on Monday, September 29th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 30th. Finally, Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Saturday, October 4th. Nine research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.77.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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