Stableford Capital II LLC Sells 10,075 Shares of Wells Fargo & Company (NYSE:WFC)

Stableford Capital II LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 21.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 37,951 shares of the financial services provider’s stock after selling 10,075 shares during the period. Wells Fargo & Company accounts for approximately 0.9% of Stableford Capital II LLC’s holdings, making the stock its 23rd largest holding. Stableford Capital II LLC’s holdings in Wells Fargo & Company were worth $2,200,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company during the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in 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 worth $26,000 after acquiring an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $29,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Citigroup reiterated a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.99.

Read Our Latest Analysis on WFC

Wells Fargo & Company Stock Performance

Shares of WFC traded down $0.09 during trading hours on Thursday, hitting $58.96. The stock had a trading volume of 11,984,989 shares, compared to its average volume of 17,971,520. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The firm has a market capitalization of $205.55 billion, a PE ratio of 12.26, a PEG ratio of 1.46 and a beta of 1.17. The stock has a fifty day moving average price of $59.46 and a 200 day moving average price of $54.48.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released 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 company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.37%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wells Fargo & Company Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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