Wells Fargo & Company (NYSE:WFC) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 15.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,260 shares of the financial services provider’s stock after selling 4,971 shares during the quarter. NorthRock Partners LLC’s holdings in Wells Fargo & Company were worth $1,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WFC. Fruth Investment Management lifted its stake in shares of Wells Fargo & Company by 3.2% during the first quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock valued at $377,000 after acquiring an additional 200 shares during the period. Lazari Capital Management Inc. raised its stake in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 202 shares during the last quarter. Webster Bank N. A. lifted its holdings in Wells Fargo & Company by 2.0% in the first quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock valued at $588,000 after buying an additional 202 shares during the period. First Financial Corp IN grew its holdings in 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 worth $226,000 after acquiring an additional 214 shares during the period. Finally, CX Institutional raised 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. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Compass Point reiterated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. BMO Capital Markets boosted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group upped their price objective 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. Thirteen equities research 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 MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.31.

Wells Fargo & Company Stock Up 2.1 %

WFC traded up $1.20 on Monday, hitting $57.74. 27,270,935 shares of the company were exchanged, compared to its average volume of 18,491,102. The stock’s fifty day moving average is $59.48 and its 200-day moving average is $55.87. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $201.30 billion, a PE ratio of 11.86, a PEG ratio of 1.39 and a beta of 1.17.

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, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.23% and a net margin of 15.17%. The company had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue was up .8% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 28.75%.

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.