Lbp Am Sa Has $2.82 Million Position in Wells Fargo & Company (NYSE:WFC)

Lbp Am Sa lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 68.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 48,634 shares of the financial services provider’s stock after selling 103,394 shares during the period. Lbp Am Sa’s holdings in Wells Fargo & Company were worth $2,819,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on WFC shares. BMO Capital Markets increased their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Finally, Evercore ISI reissued an “outperform” rating and set a $67.00 price objective (down previously from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Thirteen 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.com, the company has an average rating of “Hold” and a consensus price target of $59.52.

Wells Fargo & Company Stock Performance

WFC stock traded down $2.46 during midday trading on Thursday, reaching $56.88. 17,445,496 shares of the company were exchanged, compared to its average volume of 18,116,016. The firm has a market capitalization of $198.30 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17. The business has a 50-day moving average price of $59.06 and a two-hundred day moving average price of $56.77. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same period in the prior year, the firm earned $1.25 EPS. The business’s revenue was up .8% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is 28.75%.

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.