Courier Capital LLC Trims Stake in Wells Fargo & Company (NYSE:WFC)

Courier Capital LLC reduced its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,541 shares of the financial services provider’s stock after selling 748 shares during the quarter. Courier Capital LLC’s holdings in Wells Fargo & Company were worth $1,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WFC. Norges Bank purchased a new position in Wells Fargo & Company during the 4th quarter worth $2,623,044,000. LSV Asset Management increased its holdings 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 valued at $458,162,000 after acquiring an additional 2,677,050 shares during the period. Morningstar Investment Services LLC increased 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 valued at $189,684,000 after acquiring an additional 1,951,477 shares during the period. Nordea Investment Management AB increased its holdings in shares of Wells Fargo & Company by 42.7% in the 4th 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 during the period. Finally, 1832 Asset Management L.P. increased its holdings in shares of 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 valued at $172,426,000 after acquiring an additional 1,673,917 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on WFC shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Citigroup restated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Jefferies Financial Group boosted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Finally, Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $59.15.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $59.39 on Friday. The stock has a market cap of $207.03 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.17. The business has a 50-day simple moving average of $59.55 and a 200-day simple moving average of $55.04. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued 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 analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 EPS. On average, equities analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were issued a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. Wells Fargo & Company’s payout ratio is 29.23%.

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.