Verum Partners LLC Has $558,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Verum Partners LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 7.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 9,626 shares of the financial services provider’s stock after selling 747 shares during the quarter. Verum Partners LLC’s holdings in Wells Fargo & Company were worth $558,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company during the 3rd quarter worth $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Core Wealth Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. raised its position 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 valued at $26,000 after acquiring an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the subject of several recent research reports. JPMorgan Chase & Co. upped 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 report on Wednesday, May 1st. The Goldman Sachs Group upped their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Finally, StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. 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 company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $59.15.

Wells Fargo & Company Stock Up 0.6 %

Shares of WFC traded up $0.38 during midday trading on Tuesday, hitting $60.97. The stock had a trading volume of 9,523,882 shares, compared to its average volume of 18,463,414. The company has a 50 day simple moving average of $59.54 and a two-hundred day simple moving average of $55.22. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm has a market cap of $212.56 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. 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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the business posted $1.23 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Wells Fargo & Company 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.