Founders Financial Securities LLC Trims Position in Wells Fargo & Company (NYSE:WFC)

Founders Financial Securities LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,295 shares of the financial services provider’s stock after selling 428 shares during the quarter. Founders Financial Securities LLC’s holdings in Wells Fargo & Company were worth $1,756,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vicus Capital boosted its stake in Wells Fargo & Company by 7.7% during the first quarter. Vicus Capital now owns 6,591 shares of the financial services provider’s stock valued at $382,000 after buying an additional 471 shares during the period. Trust Co. of Virginia VA purchased a new stake in Wells Fargo & Company in the first quarter valued at approximately $201,000. Weaver Consulting Group lifted its position in Wells Fargo & Company by 61.6% during the first quarter. Weaver Consulting Group now owns 8,578 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 3,270 shares during the last quarter. Webster Bank N. A. grew its stake in Wells Fargo & Company by 2.0% in the 1st quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock worth $588,000 after buying an additional 202 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its holdings in shares of Wells Fargo & Company by 4.3% in the 1st quarter. Kathmere Capital Management LLC now owns 7,916 shares of the financial services provider’s stock worth $459,000 after buying an additional 324 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Argus increased their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Jefferies Financial Group boosted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Evercore ISI lifted their target price on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 25th. Fourteen research 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.15.

Wells Fargo & Company Trading Up 3.4 %

Shares of NYSE:WFC traded up $1.97 on Friday, hitting $59.39. The company had a trading volume of 31,074,465 shares, compared to its average volume of 18,610,088. The firm’s 50-day simple moving average is $59.55 and its two-hundred day simple moving average is $55.10. The firm has a market capitalization of $207.05 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.46 and a beta of 1.17. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm 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%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

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.