Newbridge Financial Services Group Inc. Sells 293 Shares of Wells Fargo & Company (NYSE:WFC)

Newbridge Financial Services Group Inc. decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,304 shares of the financial services provider’s stock after selling 293 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Wells Fargo & Company were worth $113,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Core Wealth Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. lifted its holdings in shares of 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 valued at $26,000 after buying an additional 356,620 shares during the period. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $29,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WFC. The Goldman Sachs Group increased their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Citigroup restated a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Morgan Stanley boosted their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Finally, Evercore ISI lifted their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Trading Up 0.8 %

NYSE:WFC traded up $0.45 during trading hours on Tuesday, reaching $58.69. 2,005,190 shares of the company were exchanged, compared to its average volume of 17,906,941. 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 cap of $204.61 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.49 and a beta of 1.17. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The stock has a 50 day simple moving average of $59.39 and a 200 day simple moving average of $54.35.

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 for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the business earned $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 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.39%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

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.