Woodmont Investment Counsel LLC Has $627,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Woodmont Investment Counsel LLC cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,826 shares of the financial services provider’s stock after selling 460 shares during the period. Woodmont Investment Counsel LLC’s holdings in Wells Fargo & Company were worth $627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $2,623,044,000. LSV Asset Management raised its holdings in Wells Fargo & Company by 40.4% during the 4th 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 period. Morningstar Investment Services LLC raised its holdings in Wells Fargo & Company by 103.7% during 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 buying an additional 1,951,477 shares during the period. Nordea Investment Management AB raised its holdings in Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock worth $285,668,000 after buying an additional 1,729,132 shares during the period. Finally, 1832 Asset Management L.P. raised its holdings in Wells Fargo & Company by 91.5% during 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 buying an additional 1,673,917 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.6 %

WFC stock opened at $60.97 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a fifty day moving average price of $59.54 and a two-hundred day moving average price of $55.22. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The stock has a market cap of $212.56 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17.

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

Wells Fargo & Company Announces Dividend

The company also recently announced 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 2.30%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Analysts Set New Price Targets

Several brokerages have commented on WFC. Evercore ISI raised their target price on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday, June 25th. Citigroup restated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. HSBC raised their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Finally, Compass Point reaffirmed a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $59.15.

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.