SteelPeak Wealth LLC Has $1.02 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

SteelPeak Wealth LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 79.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,614 shares of the financial services provider’s stock after selling 67,622 shares during the quarter. SteelPeak Wealth LLC’s holdings in Wells Fargo & Company were worth $1,021,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $2,623,044,000. LSV Asset Management boosted its holdings in shares of Wells Fargo & Company by 40.4% in the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock valued at $458,162,000 after buying an additional 2,677,050 shares during the last quarter. Morningstar Investment Services LLC boosted its holdings in shares of Wells Fargo & Company by 103.7% in the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after buying an additional 1,951,477 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Wells Fargo & Company by 42.7% in the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after buying an additional 1,729,132 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Wells Fargo & Company by 91.5% in the 4th quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock valued at $172,426,000 after buying an additional 1,673,917 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $1.97 during mid-day trading on Friday, reaching $59.39. The company had a trading volume of 31,074,465 shares, compared to its average volume of 18,610,088. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The firm has a market cap of $207.05 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.46 and a beta of 1.17. The business’s 50-day simple moving average is $59.55 and its 200 day simple moving average is $55.15.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping 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 company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the business earned $1.23 earnings per share. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Analysts Set New Price Targets

WFC has been the subject of several research reports. Citigroup reaffirmed 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. Jefferies Financial Group raised their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Argus raised their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. raised their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $59.15.

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.