NBW Capital LLC Sells 324 Shares of Wells Fargo & Company (NYSE:WFC)

NBW Capital LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,685 shares of the financial services provider’s stock after selling 324 shares during the quarter. NBW Capital LLC’s holdings in Wells Fargo & Company were worth $6,299,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Regent Peak Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $239,000. Webster Bank N. A. grew its position in shares of Wells Fargo & Company by 7.3% in the 4th quarter. Webster Bank N. A. now owns 9,951 shares of the financial services provider’s stock worth $490,000 after buying an additional 676 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Wells Fargo & Company by 108.0% in the 4th quarter. Venturi Wealth Management LLC now owns 724 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 376 shares during the period. Trust Point Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $2,499,000. Finally, Leonard Rickey Investment Advisors P.L.L.C. bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $216,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WFC shares. Evercore ISI reiterated an “outperform” rating and issued a $67.00 price target (down previously from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. JPMorgan Chase & Co. upped their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. BMO Capital Markets raised their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Morgan Stanley boosted their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.91.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded down $3.62 during midday trading on Friday, reaching $53.26. The company had a trading volume of 27,642,566 shares, compared to its average volume of 16,512,784. The stock has a market cap of $185.68 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.40 and a beta of 1.17. The business’s 50-day simple moving average is $58.87 and its 200 day simple moving average is $56.88. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same period in the previous year, the company posted $1.25 EPS. Wells Fargo & Company’s revenue was up .8% compared to the same quarter last year. On average, analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Friday, August 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.00%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is presently 28.75%.

About Wells Fargo & Company

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.