Syverson Strege & Co Sells 2,158 Shares of Wells Fargo & Company (NYSE:WFC)

Syverson Strege & Co cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 26.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,927 shares of the financial services provider’s stock after selling 2,158 shares during the period. Syverson Strege & Co’s holdings in Wells Fargo & Company were worth $292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Financial Corp IN boosted its position in Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the period. CX Institutional boosted its holdings in shares of Wells Fargo & Company by 1.1% during the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares during the period. Cape Investment Advisory Inc. boosted its holdings in shares of Wells Fargo & Company by 3.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 219 shares during the period. Cassaday & Co Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 4.1% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 224 shares during the period. Finally, ERTS Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 3.5% during the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 228 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFC has been the subject of a number of research reports. Jefferies Financial Group increased their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Argus raised their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.99.

View Our Latest Report on Wells Fargo & Company

Wells Fargo & Company Stock Performance

WFC stock traded up $0.17 on Wednesday, hitting $57.30. The company had a trading volume of 16,309,604 shares, compared to its average volume of 18,083,156. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock’s 50-day simple moving average is $59.36 and its 200 day simple moving average is $53.96. The stock has a market cap of $199.77 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.53 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

About Wells Fargo & Company

(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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