NBW Capital LLC Sells 324 Shares of Wells Fargo & Company (NYSE:WFC)

NBW Capital LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,685 shares of the financial services provider’s stock after selling 324 shares during the quarter. NBW Capital LLC’s holdings in Wells Fargo & Company were worth $6,299,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in WFC. Arlington Trust Co LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Core Wealth Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter worth $25,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $29,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $32,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $32,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. BMO Capital Markets boosted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Morgan Stanley boosted their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Thirteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.91.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $3.62 during midday trading on Friday, reaching $53.26. 27,642,566 shares of the company were exchanged, compared to its average volume of 16,512,784. The company has a market capitalization of $185.68 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 1.40 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The firm’s 50-day simple moving average is $58.87 and its 200-day simple moving average is $56.88.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.75%.

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.