SeaCrest Wealth Management LLC Reduces Stock Holdings in Wells Fargo & Company (NYSE:WFC)

SeaCrest Wealth Management LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 46.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,032 shares of the financial services provider’s stock after selling 14,792 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Wells Fargo & Company were worth $987,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MV Capital Management Inc. raised its stake in Wells Fargo & Company by 7.8% during the first quarter. MV Capital Management Inc. now owns 15,303 shares of the financial services provider’s stock valued at $887,000 after purchasing an additional 1,107 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in shares of Wells Fargo & Company by 18.0% in the first quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,184 shares of the financial services provider’s stock worth $300,000 after purchasing an additional 791 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Wells Fargo & Company by 28.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock valued at $27,441,000 after acquiring an additional 106,260 shares in the last quarter. Tributary Capital Management LLC grew its position in shares of Wells Fargo & Company by 19.5% during the 1st quarter. Tributary Capital Management LLC now owns 11,650 shares of the financial services provider’s stock worth $675,000 after buying an additional 1,900 shares in the last quarter. Finally, Miracle Mile Advisors LLC raised its holdings in shares of Wells Fargo & Company by 1.2% in the 1st quarter. Miracle Mile Advisors LLC now owns 20,454 shares of the financial services provider’s stock valued at $1,186,000 after purchasing an additional 235 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Citigroup restated a “neutral” rating and set a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Fourteen research 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 company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.15.

Wells Fargo & Company Trading Up 0.6 %

NYSE WFC opened at $60.97 on Wednesday. The firm has a 50 day simple moving average of $59.54 and a 200-day simple moving average of $55.22. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The firm has a market cap of $212.56 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.13 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. Wells Fargo & Company’s payout ratio is 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.