Wells Fargo & Company $WFC Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 471,073 shares of the financial services provider's stock after selling 16,239 shares during the quarter. Wells Fargo & Company comprises approximately 1.3% of Clifford Swan Investment Counsel LLC's portfolio, making the stock its 16th biggest holding. Clifford Swan Investment Counsel LLC's holdings in Wells Fargo & Company were worth $37,742,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC lifted its holdings in 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 valued at $27,000 after purchasing an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $27,000. Motco lifted its stake in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after buying an additional 326 shares during the period. Accent Capital Management LLC acquired a new stake in Wells Fargo & Company during the first quarter worth approximately $29,000. Finally, 1248 Management LLC acquired a new stake in Wells Fargo & Company during the first quarter worth approximately $31,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on WFC shares. Weiss Ratings raised Wells Fargo & Company from a "hold (c)" rating to a "buy (b)" rating in a research note on Wednesday, October 8th. Bank of America increased their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a "buy" rating in a research report on Wednesday, October 15th. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an "outperform" rating in a research note on Tuesday, September 30th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an "equal weight" rating in a report on Wednesday, October 15th. Finally, TD Cowen lifted their price target on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a "hold" rating in a report on Wednesday, October 15th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $89.57.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $83.91 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market cap of $268.79 billion, a PE ratio of 13.80, a P/E/G ratio of 1.16 and a beta of 1.25. The company's fifty day simple moving average is $81.61 and its 200-day simple moving average is $77.29. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.11. The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company's dividend payout ratio is 29.61%.

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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