Mountain Pacific Investment Advisers LLC Decreases Holdings in Wells Fargo & Company $WFC

Key Points

• Mountain Pacific Investment Advisers LLC has reduced its holdings in Wells Fargo & Company by 18.7%, now owning 14,338 shares worth approximately $1,149,000.
• Wells Fargo's recent quarterly earnings report showed an EPS of $1.54, exceeding expectations, while also announcing an increase in its quarterly dividend to $0.45.
• Brokerages have mixed ratings on Wells Fargo's stock, with nine analysts suggesting a buy and eight a hold, resulting in a consensus rating of Moderate Buy and an average target price of $83.74.

Mountain Pacific Investment Advisers LLC reduced its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 18.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 14,338 shares of the financial services provider's stock after selling 3,296 shares during the quarter. Mountain Pacific Investment Advisers LLC's holdings in Wells Fargo & Company were worth $1,149,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. CBIZ Investment Advisory Services LLC raised its holdings in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock worth $27,000 after purchasing an additional 322 shares during the period. Motco increased its position in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after buying an additional 326 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the first quarter valued at $29,000. 1248 Management LLC purchased a new position in shares of Wells Fargo & Company during the 1st quarter valued at $31,000. Finally, Stone House Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter worth $34,000. Institutional investors own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WFC. Phillip Securities cut Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. The Goldman Sachs Group lowered their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an "outperform" rating in a report on Tuesday. Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Finally, Citigroup increased their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 23rd. Nine analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $83.74.

Wells Fargo & Company Trading Down 3.4%

Wells Fargo & Company stock opened at $80.94 on Thursday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a fifty-two week low of $54.40 and a fifty-two week high of $86.65. The stock has a market cap of $259.28 billion, a P/E ratio of 13.86, a PEG ratio of 1.29 and a beta of 1.25. The firm's fifty day moving average price is $80.91 and its 200-day moving average price is $76.15.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $1.33 earnings per share. Equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 30.82%.

Wells Fargo & Company Company Profile

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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