Wells Fargo & Company (NYSE:WFC) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 29.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,661 shares of the financial services provider’s stock after selling 5,649 shares during the quarter. Financial Counselors Inc.’s holdings in Wells Fargo & Company were worth $672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 3rd quarter worth $25,000. Arlington Trust Co LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares during the period. Studio Investment Management LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth $28,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Wells Fargo & Company during the 1st quarter worth $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a report on Monday, January 8th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, March 19th. Citigroup reiterated a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a report on Thursday, January 18th. Finally, Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $58.37.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $56.51 on Friday. Wells Fargo & Company has a one year low of $36.40 and a one year high of $58.44. The company has a market cap of $200.07 billion, a PE ratio of 11.72, a P/E/G ratio of 1.19 and a beta of 1.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. The business has a 50-day simple moving average of $54.92 and a 200-day simple moving average of $48.22.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.16. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the company posted $1.23 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 4.68 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is presently 29.05%.

Wells Fargo & 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.