Wells Fargo & Company (NYSE:WFC) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lowered its stake in Wells Fargo & Company (NYSE:WFC) by 9.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 17,569 shares of the financial services provider’s stock after selling 1,798 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Wells Fargo & Company were worth $1,018,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WFC. Fruth Investment Management raised its stake in shares of Wells Fargo & Company by 3.2% in the first quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 200 shares during the last quarter. Lazari Capital Management Inc. raised its position in Wells Fargo & Company by 0.9% in the 4th quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 202 shares during the last quarter. Webster Bank N. A. lifted its holdings in Wells Fargo & Company by 2.0% during the 1st quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock worth $588,000 after buying an additional 202 shares in the last quarter. First Financial Corp IN boosted its position in Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the last quarter. Finally, CX Institutional increased its stake in shares of Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after buying an additional 217 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WFC shares. Compass Point reiterated a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Finally, The Goldman Sachs Group increased their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $59.36.

Wells Fargo & Company Stock Down 0.5 %

WFC stock traded down $0.32 during mid-day trading on Wednesday, hitting $59.56. 3,792,438 shares of the company were exchanged, compared to its average volume of 18,111,016. 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 1-year low of $38.38 and a 1-year high of $62.55. The firm’s 50 day simple moving average is $59.54 and its 200 day simple moving average is $55.67. The firm has a market cap of $207.64 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.45 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. On average, sell-side analysts predict that Wells Fargo & Company will post 5.15 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.35%. Wells Fargo & Company’s payout ratio is presently 29.23%.

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.