Wells Fargo & Company (NYSE:WFC) Shares Sold by Register Financial Advisors LLC

Register Financial Advisors LLC cut its position in Wells Fargo & Company (NYSE:WFC) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,620 shares of the financial services provider’s stock after selling 231 shares during the quarter. Register Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $2,623,044,000. LSV Asset Management increased its stake in Wells Fargo & Company by 40.4% during the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after buying an additional 2,677,050 shares during the period. Morningstar Investment Services LLC boosted its position in Wells Fargo & Company by 103.7% in the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after buying an additional 1,951,477 shares during the period. Nordea Investment Management AB grew 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 worth $285,668,000 after acquiring an additional 1,729,132 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Wells Fargo & Company by 91.5% during the fourth quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock worth $172,426,000 after acquiring an additional 1,673,917 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Citigroup restated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. HSBC lifted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Finally, Jefferies Financial Group lifted their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Fourteen 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.15.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $59.39 on Friday. The stock has a market cap of $207.03 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.42 and a beta of 1.17. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The stock has a 50 day moving average of $59.55 and a two-hundred day moving average of $55.04. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. On average, research analysts forecast 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 paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Wells Fargo & 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.