Wells Fargo & Company (NYSE:WFC) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 59.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,039 shares of the financial services provider’s stock after selling 5,992 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Wells Fargo & Company were worth $199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Financial Corp IN grew its holdings in shares of Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 214 shares during the last quarter. CX Institutional grew its holdings in shares of Wells Fargo & Company by 1.1% during the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares during the last quarter. ERTS Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 3.5% during the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 228 shares during the last quarter. Prio Wealth Limited Partnership grew its holdings in shares of Wells Fargo & Company by 1.7% during the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 233 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Wells Fargo & Company by 19.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 244 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of several research reports. Compass Point reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday. Evercore ISI increased their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Jefferies Financial Group increased their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Morgan Stanley increased their target price 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. Thirteen 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 stock currently has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Trading Up 2.7 %

Shares of WFC opened at $58.74 on Friday. 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 firm has a 50 day simple moving average of $55.63 and a 200-day simple moving average of $48.68. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $59.13. The stock has a market cap of $207.96 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19.

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 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 business had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period last year, the company posted $1.23 EPS. The company’s revenue was up .6% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a yield of 2.38%. Wells Fargo & Company’s payout ratio is currently 29.23%.

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.