First Citizens Financial Corp Sells 599 Shares of Wells Fargo & Company (NYSE:WFC)

First Citizens Financial Corp reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 13.9% during the third quarter, Holdings Channel.com reports. The fund owned 3,700 shares of the financial services provider’s stock after selling 599 shares during the quarter. First Citizens Financial Corp’s holdings in Wells Fargo & Company were worth $209,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in WFC. Slagle Financial LLC increased its position in shares of Wells Fargo & Company by 97.3% during the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after purchasing an additional 68,356 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Wells Fargo & Company by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after purchasing an additional 1,835 shares during the last quarter. Wedmont Private Capital increased its position in shares of Wells Fargo & Company by 16.4% during the 1st quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after purchasing an additional 21,496 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Wells Fargo & Company by 28.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock valued at $27,441,000 after purchasing an additional 106,260 shares during the last quarter. Finally, FORVIS Wealth Advisors LLC increased its position in shares of Wells Fargo & Company by 154.2% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider’s stock valued at $1,578,000 after purchasing an additional 16,515 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Down 0.6 %

WFC opened at $54.98 on Friday. The stock has a market cap of $191.68 billion, a PE ratio of 11.29, a PEG ratio of 1.32 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average of $55.43 and a 200-day moving average of $57.76. 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 released its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Analyst Ratings Changes

Several brokerages have recently commented on WFC. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, September 3rd. Jefferies Financial Group cut Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Morgan Stanley dropped their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday. The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Evercore ISI increased their target price on Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a report on Wednesday. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $60.41.

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.