Quintet Private Bank Europe S.A. Lowers Position in Wells Fargo & Company (NYSE:WFC)

Quintet Private Bank Europe S.A. reduced its stake in Wells Fargo & Company (NYSE:WFC) by 54.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,332 shares of the financial services provider’s stock after selling 2,750 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Wells Fargo & Company were worth $115,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. United Services Automobile Association boosted its position in shares of Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 11,825 shares during the period. Synovus Financial Corp grew its stake in shares of Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after buying an additional 46,525 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $2,499,000. G2 Capital Management LLC OH purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $278,000. Finally, North Reef Capital Management LP lifted its stake in Wells Fargo & Company by 40.2% during the 3rd quarter. North Reef Capital Management LP now owns 2,300,000 shares of the financial services provider’s stock worth $93,978,000 after acquiring an additional 660,000 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock traded up $0.13 during trading on Friday, reaching $57.40. 15,375,353 shares of the company were exchanged, compared to its average volume of 14,025,280. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $200.11 billion, a P/E ratio of 11.98, a PEG ratio of 1.51 and a beta of 1.17. The stock’s 50 day moving average price is $59.38 and its 200 day moving average price is $54.18.

Wells Fargo & Company (NYSE:WFC) last released 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. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the company posted $1.23 EPS. The business’s revenue was up .6% on a year-over-year basis. As a group, analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid 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 2.44%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Jefferies Financial Group lifted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.99.

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.