Wells Fargo & Company (NYSE:WFC) Stock Position Cut by Sivia Capital Partners LLC

Sivia Capital Partners LLC trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,304 shares of the financial services provider’s stock after selling 182 shares during the quarter. Sivia Capital Partners LLC’s holdings in Wells Fargo & Company were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Wells Fargo & Company during the fourth quarter worth about $2,623,044,000. LSV Asset Management grew its stake in shares of Wells Fargo & Company by 40.4% in the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after purchasing an additional 2,677,050 shares during the last quarter. Morningstar Investment Services LLC raised its holdings in shares of Wells Fargo & Company by 103.7% in the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after purchasing an additional 1,951,477 shares in the last quarter. Nordea Investment Management AB lifted its stake in Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after purchasing an additional 1,729,132 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Wells Fargo & Company by 91.5% during the fourth quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock worth $172,426,000 after buying an additional 1,673,917 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.9 %

NYSE WFC traded down $0.53 during trading on Wednesday, reaching $60.44. The company’s stock had a trading volume of 3,060,233 shares, compared to its average volume of 18,342,270. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $210.71 billion, a PE ratio of 12.62, a PEG ratio of 1.46 and a beta of 1.17. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The business has a 50-day moving average price of $59.54 and a 200-day moving average price of $55.30.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. On average, research analysts forecast that Wells Fargo & Company will post 5.13 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WFC shares. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Jefferies Financial Group boosted their target price on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Argus raised their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $59.36.

About Wells Fargo & Company

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.