ERn Financial LLC Has $391,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

ERn Financial LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,750 shares of the financial services provider’s stock after selling 194 shares during the quarter. ERn Financial LLC’s holdings in Wells Fargo & Company were worth $391,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group increased their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Evercore ISI increased their target price on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup reissued 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. Finally, The Goldman Sachs Group raised their price objective 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. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.15.

Wells Fargo & Company Price Performance

Shares of WFC opened at $57.42 on Friday. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $200.18 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The business has a 50-day moving average of $59.59 and a 200-day moving average of $54.93.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $20.19 billion. During the same period last year, the company earned $1.23 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.44%. Wells Fargo & Company’s payout ratio is currently 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.