Stonnington Group LLC Cuts Position in Wells Fargo & Company (NYSE:WFC)

Stonnington Group LLC lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 9.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,365 shares of the financial services provider’s stock after selling 1,525 shares during the quarter. Stonnington Group LLC’s holdings in Wells Fargo & Company were worth $758,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Level Financial Advisors Inc. bought a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Gibson Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. KRS Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $28,000. Addison Advisors LLC increased its stake in shares of Wells Fargo & Company by 141.0% in the fourth quarter. Addison Advisors LLC now owns 629 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 368 shares in the last quarter. Finally, US Asset Management LLC purchased a new stake in shares of Wells Fargo & Company in the first quarter worth $32,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Shares of Wells Fargo & Company stock opened at $38.60 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.95. The firm’s 50 day moving average is $43.55 and its two-hundred day moving average is $49.10. Wells Fargo & Company has a 52 week low of $36.54 and a 52 week high of $60.30. The firm has a market capitalization of $146.31 billion, a P/E ratio of 8.02, a P/E/G ratio of 0.93 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings results on Thursday, April 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.07. The business had revenue of $17.59 billion during the quarter, compared to the consensus estimate of $17.82 billion. Wells Fargo & Company had a return on equity of 12.20% and a net margin of 25.35%. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, research analysts expect that Wells Fargo & Company will post 4.07 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date was Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio is presently 20.79%.

WFC has been the subject of several research analyst reports. Piper Sandler set a $48.00 target price on shares of Wells Fargo & Company in a research note on Monday. BMO Capital Markets lowered their target price on shares of Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating for the company in a report on Monday, April 18th. StockNews.com assumed coverage on shares of Wells Fargo & Company in a report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley decreased their price objective on shares of Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Finally, Barclays raised their target price on shares of Wells Fargo & Company from $62.00 to $64.00 in a research report on Monday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.62.

In related news, EVP Kleber Santos sold 22,700 shares of Wells Fargo & Company stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total transaction of $1,008,788.00. Following the completion of the sale, the executive vice president now owns 21,478 shares in the company, valued at approximately $954,482.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.

Wells Fargo & Company Company Profile (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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