Verdence Capital Advisors LLC Sells 3,729 Shares of Wells Fargo & Company (NYSE:WFC)

Verdence Capital Advisors LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 17.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 17,934 shares of the financial services provider’s stock after selling 3,729 shares during the period. Verdence Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $883,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of WFC. First Financial Corp IN lifted its position in Wells Fargo & Company by 4.9% during the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 214 shares during the period. CX Institutional boosted its stake in Wells Fargo & Company by 1.1% during the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 217 shares during the last quarter. ERTS Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 3.5% in 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 boosted its position 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 valued at $704,000 after buying an additional 233 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its position in Wells Fargo & Company by 19.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after buying an additional 244 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $60.35 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock has a market capitalization of $213.66 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 1.17 and a beta of 1.19. The company has a fifty day moving average of $55.88 and a 200 day moving average of $48.96. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $60.85.

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, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the business posted $1.23 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.23%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. Evercore ISI increased their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Barclays boosted their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Thirteen investment 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.85.

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.