Financial Perspectives Inc Sells 5,141 Shares of Wells Fargo & Company (NYSE:WFC)

Financial Perspectives Inc lowered its position in Wells Fargo & Company (NYSE:WFC) by 83.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,011 shares of the financial services provider’s stock after selling 5,141 shares during the period. Financial Perspectives Inc’s holdings in Wells Fargo & Company were worth $59,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $2,623,044,000. LSV Asset Management increased its position in Wells Fargo & Company by 40.4% in the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after buying an additional 2,677,050 shares during the last quarter. Morningstar Investment Services LLC boosted its position in shares of Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after acquiring an additional 1,951,477 shares during the period. Nordea Investment Management AB grew 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 acquiring an additional 1,729,132 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Wells Fargo & Company by 91.5% in the 4th quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock worth $172,426,000 after purchasing an additional 1,673,917 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $0.31 during trading on Thursday, reaching $60.66. The company had a trading volume of 6,698,813 shares, compared to its average volume of 18,808,808. The firm’s 50-day simple moving average is $59.54 and its 200 day simple moving average is $55.34. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The firm has a market capitalization of $211.48 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.17. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

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

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Evercore ISI increased their price objective on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. Jefferies Financial Group boosted their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. 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 has a consensus rating of “Hold” and an average target price of $59.36.

Wells Fargo & Company Company Profile

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.