Bokf Na Lowers Position in Wells Fargo & Company $WFC

Bokf Na lessened its stake in Wells Fargo & Company (NYSE:WFC) by 6.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,637 shares of the financial services provider’s stock after selling 10,373 shares during the quarter. Bokf Na’s holdings in Wells Fargo & Company were worth $13,760,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth $27,000. Marquette Asset Management LLC lifted its holdings in shares of Wells Fargo & Company by 472.4% in the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after buying an additional 274 shares in the last quarter. Joseph Group Capital Management purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $28,000. Grey Fox Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth $30,000. Finally, Imprint Wealth LLC purchased a new stake in Wells Fargo & Company during the third quarter valued at $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WFC. Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 15th. Wolfe Research reaffirmed an “outperform” rating and set a $109.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. CICC Research began coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price target on the stock. Jefferies Financial Group began coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Evercore reaffirmed an “outperform” rating on shares of Wells Fargo & Company in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $97.53.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $79.88 on Wednesday. The company has a market cap of $244.45 billion, a price-to-earnings ratio of 12.33, a PEG ratio of 0.93 and a beta of 0.96. The firm’s fifty day moving average is $80.67 and its 200 day moving average is $86.16. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a 52-week low of $71.89 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.02. The business had revenue of $11.62 billion for the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.39 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 6.82 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 8th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.78%.

Insider Transactions at Wells Fargo & Company

In other news, EVP Kleber Santos sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the completion of the sale, the executive vice president owned 79,876 shares in the company, valued at approximately $7,006,722.72. This trade represents a 23.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ellen R. Patterson sold 60,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $87.40, for a total transaction of $5,244,000.00. Following the completion of the sale, the executive vice president owned 169,496 shares of the company’s stock, valued at $14,813,950.40. This trade represents a 26.14% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 115,000 shares of company stock worth $10,050,000. 0.14% of the stock is currently owned by insiders.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.