Financial Partners Group LLC Sells 487 Shares of Wells Fargo & Company (NYSE:WFC)

Financial Partners Group LLC trimmed its position in Wells Fargo & Company (NYSE:WFC) by 2.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,932 shares of the financial services provider’s stock after selling 487 shares during the period. Financial Partners Group LLC’s holdings in Wells Fargo & Company were worth $1,039,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $25,000. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $29,000. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company in the third quarter valued at about $25,000. Finally, Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Jefferies Financial Group boosted their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Morgan Stanley upped their price target 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. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average price target of $59.15.

Wells Fargo & Company Price Performance

NYSE WFC traded up $1.97 on Friday, hitting $59.39. The stock had a trading volume of 31,074,465 shares, compared to its average volume of 18,610,088. The firm has a 50-day moving average of $59.55 and a 200-day moving average of $55.15. The company has a market capitalization of $207.05 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS 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 analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.23 EPS. Equities analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s payout ratio is 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.