Wells Fargo & Company (NYSE:WFC) Shares Sold by Analyst IMS Investment Management Services Ltd.

Analyst IMS Investment Management Services Ltd. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 14.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,994 shares of the financial services provider’s stock after selling 2,533 shares during the period. Analyst IMS Investment Management Services Ltd.’s holdings in Wells Fargo & Company were worth $738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Financial Corp IN lifted its position in shares of 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 last quarter. CX Institutional lifted its position in shares of 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 acquiring an additional 217 shares during the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Wells Fargo & Company by 3.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 219 shares during the last quarter. Cassaday & Co Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 4.1% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 224 shares during the last quarter. Finally, ERTS Wealth Advisors LLC raised its stake in Wells Fargo & Company by 3.5% during the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.9 %

NYSE:WFC traded up $0.53 during trading hours on Friday, reaching $60.21. The company’s stock had a trading volume of 9,913,040 shares, compared to its average volume of 16,097,602. The company has a market cap of $209.91 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The business’s 50-day moving average is $59.03 and its 200-day moving average is $52.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Analyst Ratings Changes

Several brokerages have issued reports on WFC. Citigroup reissued a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Jefferies Financial Group boosted their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $58.99.

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.