Wells Fargo & Company (NYSE:WFC) Stock Position Trimmed by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC cut its position in Wells Fargo & Company (NYSE:WFC) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,599 shares of the financial services provider’s stock after selling 4,986 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Wells Fargo & Company were worth $1,162,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fortis Group Advisors LLC bought a new stake in Wells Fargo & Company in the 3rd quarter valued at about $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. increased its stake 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 valued at $26,000 after buying an additional 356,620 shares during the period. Studio Investment Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company during the 1st quarter valued at about $28,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird reissued a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research note on Monday, January 8th. Raymond James raised their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, HSBC lifted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Trading Up 2.7 %

Shares of WFC traded up $1.56 during midday trading on Thursday, hitting $58.74. The stock had a trading volume of 24,460,320 shares, compared to its average volume of 18,773,215. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $59.13. The business has a 50-day simple moving average of $55.42 and a two-hundred day simple moving average of $48.61. The firm has a market cap of $207.96 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $20.19 billion. During the same period last year, the company posted $1.23 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s payout ratio is presently 29.23%.

Wells Fargo & 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.