Wells Fargo & Company (NYSE:WFC) Stock Position Reduced by Verum Partners LLC

Verum Partners LLC lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,626 shares of the financial services provider’s stock after selling 747 shares during the period. Verum Partners LLC’s holdings in Wells Fargo & Company were worth $558,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several analysts recently commented on WFC shares. Evercore ISI raised their target price on Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Compass Point restated a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Morgan Stanley raised their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.15.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $0.38 during mid-day trading on Tuesday, reaching $60.97. The company had a trading volume of 9,523,882 shares, compared to its average volume of 18,463,414. 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 has a market cap of $212.56 billion, a PE ratio of 12.71, a P/E/G ratio of 1.46 and a beta of 1.17. The company has a 50-day moving average price of $59.54 and a two-hundred day moving average price of $55.22. 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 issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The business 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%. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.30%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.