Mcdonald Capital Investors Inc. CA Trims Holdings in Wells Fargo & Co (NYSE:WFC)

Mcdonald Capital Investors Inc. CA cut its holdings in Wells Fargo & Co (NYSE:WFC) by 4.7% during the second quarter, Holdings Channel reports. The institutional investor owned 1,466,769 shares of the financial services provider’s stock after selling 72,780 shares during the quarter. Wells Fargo & Co makes up approximately 3.5% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 12th biggest position. Mcdonald Capital Investors Inc. CA’s holdings in Wells Fargo & Co were worth $37,549,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in WFC. APG Asset Management N.V. boosted its stake in Wells Fargo & Co by 56.9% in the 1st quarter. APG Asset Management N.V. now owns 9,949,691 shares of the financial services provider’s stock worth $428,169,000 after purchasing an additional 3,606,983 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Wells Fargo & Co by 105.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 6,061,989 shares of the financial services provider’s stock worth $173,979,000 after purchasing an additional 3,108,879 shares in the last quarter. Alleghany Corp DE bought a new position in Wells Fargo & Co in the 1st quarter worth about $80,259,000. Yacktman Asset Management LP boosted its stake in Wells Fargo & Co by 118.7% in the 1st quarter. Yacktman Asset Management LP now owns 4,411,864 shares of the financial services provider’s stock worth $126,620,000 after purchasing an additional 2,394,333 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in Wells Fargo & Co in the 1st quarter worth about $67,583,000. Institutional investors own 72.93% of the company’s stock.

A number of equities analysts recently issued reports on the stock. ValuEngine upgraded shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Wednesday, April 15th. Deutsche Bank upgraded shares of Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. cut shares of Wells Fargo & Co to a “sell” rating in a research note on Wednesday, July 15th. Evercore ISI upgraded shares of Wells Fargo & Co from an “in-line” rating to an “outperform” rating and upped their target price for the company from $26.00 to $27.00 in a research note on Wednesday, July 15th. Finally, Barclays lowered their target price on shares of Wells Fargo & Co from $40.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 15th. Four equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have assigned a buy rating to the company’s stock. Wells Fargo & Co has a consensus rating of “Hold” and a consensus target price of $33.31.

Shares of NYSE:WFC traded down $0.39 during trading on Friday, hitting $24.26. The company’s stock had a trading volume of 45,570,805 shares, compared to its average volume of 45,648,844. The company has a 50-day moving average of $26.02 and a 200-day moving average of $32.85. Wells Fargo & Co has a 12 month low of $22.00 and a 12 month high of $54.75. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.88 and a quick ratio of 0.86. The firm has a market cap of $101.06 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 36.76 and a beta of 1.15.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported ($0.66) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.50). Wells Fargo & Co had a return on equity of 4.33% and a net margin of 6.26%. The business had revenue of $17.80 billion during the quarter, compared to the consensus estimate of $18.30 billion. During the same quarter last year, the company earned $1.30 EPS. Wells Fargo & Co’s revenue for the quarter was down 17.5% on a year-over-year basis. As a group, research analysts anticipate that Wells Fargo & Co will post 0.07 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.65%. The ex-dividend date is Thursday, August 6th. Wells Fargo & Co’s dividend payout ratio is 46.58%.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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