Wells Fargo & Company (NYSE:WFC) Shares Sold by Iams Wealth Management LLC

Iams Wealth Management LLC decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,098 shares of the financial services provider’s stock after selling 2,733 shares during the quarter. Wells Fargo & Company makes up approximately 1.2% of Iams Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Iams Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $2,623,044,000. LSV Asset Management increased its stake in shares of Wells Fargo & Company by 40.4% in the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock valued at $458,162,000 after purchasing an additional 2,677,050 shares during the period. Morningstar Investment Services LLC increased its stake in shares of Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after purchasing an additional 1,951,477 shares during the period. Nordea Investment Management AB increased its stake in shares of Wells Fargo & Company by 42.7% in the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after purchasing an additional 1,729,132 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of Wells Fargo & Company by 91.5% in the fourth quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock valued at $172,426,000 after purchasing an additional 1,673,917 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.6 %

NYSE WFC traded down $0.35 on Tuesday, hitting $60.24. 2,223,727 shares of the stock were exchanged, compared to its average volume of 18,405,461. 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 current ratio of 0.87 and a quick ratio of 0.86. The company has a market capitalization of $210.02 billion, a price-to-earnings ratio of 12.65, a P/E/G ratio of 1.46 and a beta of 1.17. The company’s 50-day moving average price is $59.55 and its two-hundred day moving average price is $55.15.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the company posted $1.23 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts predict 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 dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research analyst reports. Evercore ISI raised their price objective 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. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Morgan Stanley boosted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, 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 report on Monday, April 8th. Fourteen equities 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, the company presently has a consensus rating of “Hold” and a consensus price target 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.