Wells Fargo & Company (NYSE:WFC) Shares Sold by Courier Capital LLC

Courier Capital LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 20,541 shares of the financial services provider’s stock after selling 748 shares during the period. Courier Capital LLC’s holdings in Wells Fargo & Company were worth $1,191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Lazari Capital Management Inc. boosted its stake in shares of Wells Fargo & Company by 0.9% during the 4th quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 202 shares during the period. First Financial Corp IN boosted its stake in shares of 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 valued at $226,000 after buying an additional 214 shares during the period. CX Institutional boosted its stake 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 buying an additional 217 shares during the period. Cape Investment Advisory Inc. boosted its stake in shares of Wells Fargo & Company by 3.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock valued at $332,000 after buying an additional 219 shares during the period. Finally, Cassaday & Co Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 4.1% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider’s stock valued at $278,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $59.39 on Friday. 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 firm has a market capitalization of $207.03 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.42 and a beta of 1.17. The company’s fifty day moving average is $59.55 and its two-hundred day moving average is $55.04. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $1.23 EPS. Equities research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.36%. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WFC. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Compass Point restated a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Jefferies Financial Group raised their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Argus raised their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Finally, Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Fourteen analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $59.15.

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.