Fermata Advisors LLC Sells 447 Shares of Wells Fargo & Company (NYSE:WFC)

Fermata Advisors LLC cut its position in Wells Fargo & Company (NYSE:WFC) by 9.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,229 shares of the financial services provider’s stock after selling 447 shares during the period. Fermata Advisors LLC’s holdings in Wells Fargo & Company were worth $245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Eagle Asset Management Inc. raised its stake in shares of Wells Fargo & Company by 27.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 12,513 shares of the financial services provider’s stock valued at $511,000 after purchasing an additional 2,721 shares during the period. Parkside Financial Bank & Trust grew its position in Wells Fargo & Company by 95.8% during the third quarter. Parkside Financial Bank & Trust now owns 9,800 shares of the financial services provider’s stock worth $400,000 after buying an additional 4,796 shares in the last quarter. Operose Advisors LLC grew its position in Wells Fargo & Company by 26.6% during the third quarter. Operose Advisors LLC now owns 16,112 shares of the financial services provider’s stock worth $658,000 after buying an additional 3,386 shares in the last quarter. Meeder Advisory Services Inc. grew its position in Wells Fargo & Company by 1.1% during the third quarter. Meeder Advisory Services Inc. now owns 41,543 shares of the financial services provider’s stock worth $1,697,000 after buying an additional 454 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Wells Fargo & Company by 18.9% in the 3rd quarter. Mather Group LLC. now owns 19,105 shares of the financial services provider’s stock worth $781,000 after purchasing an additional 3,032 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $57.23 on Wednesday. The stock has a 50 day moving average of $59.59 and a 200 day moving average of $54.92. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The firm has a market cap of $199.52 billion, a PE ratio of 11.95, a PEG ratio of 1.46 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $20.19 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given 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 yield of 2.45%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. Morgan Stanley upped their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Citigroup restated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Evercore ISI increased their target price on Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $59.15.

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.