Analyst IMS Investment Management Services Ltd. Sells 1,859 Shares of Wells Fargo & Co (NYSE:WFC)

Analyst IMS Investment Management Services Ltd. lowered its stake in shares of Wells Fargo & Co (NYSE:WFC) by 11.4% in the first quarter, Holdings Channel reports. The firm owned 14,398 shares of the financial services provider’s stock after selling 1,859 shares during the period. Analyst IMS Investment Management Services Ltd.’s holdings in Wells Fargo & Co were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the business. Your Advocates Ltd. LLP acquired a new position in shares of Wells Fargo & Co during the first quarter worth approximately $26,000. Evolution Wealth Advisors LLC grew its position in Wells Fargo & Co by 119.5% in the fourth quarter. Evolution Wealth Advisors LLC now owns 562 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 306 shares during the period. Howard Wealth Management LLC bought a new stake in Wells Fargo & Co in the fourth quarter valued at $35,000. Total Clarity Wealth Management Inc. bought a new stake in Wells Fargo & Co in the fourth quarter valued at $35,000. Finally, Wealth Quarterback LLC bought a new stake in Wells Fargo & Co in the fourth quarter valued at $35,000. 74.93% of the stock is owned by hedge funds and other institutional investors.

NYSE WFC traded down $0.32 during midday trading on Friday, hitting $24.14. The company had a trading volume of 17,144,629 shares, compared to its average volume of 49,529,144. The company has a market capitalization of $100.53 billion, a PE ratio of 8.53, a P/E/G ratio of 3.05 and a beta of 1.18. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.47. The firm has a 50-day moving average price of $27.31 and a 200-day moving average price of $42.46. Wells Fargo & Co has a twelve month low of $22.00 and a twelve month high of $54.75.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.85). Wells Fargo & Co had a return on equity of 9.28% and a net margin of 14.52%. The business had revenue of $17.72 billion for the quarter, compared to analyst estimates of $19.40 billion. During the same period last year, the firm posted $1.20 EPS. Wells Fargo & Co’s quarterly revenue was down 18.0% on a year-over-year basis. On average, equities analysts anticipate that Wells Fargo & Co will post 0.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a dividend of $0.51 per share. The ex-dividend date is Thursday, May 7th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.45%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 46.58%.

In other Wells Fargo & Co news, CEO Charles W. Scharf purchased 173,000 shares of the stock in a transaction dated Friday, March 13th. The stock was bought at an average price of $28.69 per share, with a total value of $4,963,370.00. Following the acquisition, the chief executive officer now owns 176,916 shares of the company’s stock, valued at $5,075,720.04. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles H. Noski purchased 20,000 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $29.53 per share, with a total value of $590,600.00. Following the acquisition, the director now directly owns 74 shares in the company, valued at approximately $2,185.22. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

Several analysts have recently commented on WFC shares. Bank of America restated a “hold” rating and set a $30.00 target price on shares of Wells Fargo & Co in a report on Wednesday. Odeon Capital Group raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Thursday, March 26th. Cfra raised Wells Fargo & Co from a “sell” rating to a “hold” rating and dropped their price target for the stock from $48.00 to $42.00 in a research report on Wednesday, March 4th. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Wednesday, April 15th. Finally, BMO Capital Markets dropped their price target on Wells Fargo & Co from $37.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 15th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have assigned a buy rating to the company. Wells Fargo & Co presently has an average rating of “Hold” and a consensus target price of $38.93.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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