Hexagon Capital Partners LLC Sells 2,875 Shares of Wells Fargo & Company (NYSE:WFC)

Hexagon Capital Partners LLC lowered its stake in Wells Fargo & Company (NYSE:WFC) by 15.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,080 shares of the financial services provider’s stock after selling 2,875 shares during the period. Hexagon Capital Partners LLC’s holdings in Wells Fargo & Company were worth $932,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at $25,000. Tennessee Valley Asset Management Partners acquired a new position in Wells Fargo & Company in the 4th quarter valued at $29,000. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the 3rd quarter worth $25,000. Finally, Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $1.20 during mid-day trading on Monday, hitting $60.59. 14,396,220 shares of the stock were exchanged, compared to its average volume of 18,534,908. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The stock’s fifty day simple moving average is $59.55 and its two-hundred day simple moving average is $55.15. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $211.24 billion, a P/E ratio of 12.65, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations 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 was up .6% on a year-over-year basis. During the same period last year, the firm posted $1.23 EPS. As a group, analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.31%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is presently 29.23%.

Analysts Set New Price Targets

WFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Morgan Stanley upped their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Compass Point reissued a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Fourteen research 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 company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $59.15.

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.