Wells Fargo & Company (NYSE:WFC) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,366 shares of the financial services provider’s stock after selling 7,123 shares during the quarter. Park Avenue Securities LLC’s holdings in Wells Fargo & Company were worth $6,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WFC. Slagle Financial LLC increased its position in Wells Fargo & Company by 97.3% during the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after purchasing an additional 68,356 shares during the last quarter. Ballentine Partners LLC raised its position in shares of Wells Fargo & Company by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after buying an additional 1,835 shares during the period. Wedmont Private Capital lifted its holdings in Wells Fargo & Company by 16.4% in the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after acquiring an additional 21,496 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Wells Fargo & Company by 28.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock worth $27,441,000 after acquiring an additional 106,260 shares during the period. Finally, FORVIS Wealth Advisors LLC increased its stake in Wells Fargo & Company by 154.2% during the first quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider’s stock worth $1,578,000 after acquiring an additional 16,515 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 3.6 %

Shares of Wells Fargo & Company stock traded up $1.98 during trading on Friday, hitting $56.96. 14,594,449 shares of the stock were exchanged, compared to its average volume of 18,007,127. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50-day moving average price is $55.36 and its 200 day moving average price is $57.75. The stock has a market cap of $198.58 billion, a price-to-earnings ratio of 11.70, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $38.58 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. During the same period in the prior year, the firm posted $1.25 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research analyst reports. Evercore ISI increased their price target on Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, September 30th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and decreased their price objective for the stock from $62.00 to $59.00 in a report on Friday, August 16th. BMO Capital Markets lifted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $60.41.

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.