Skyline Advisors Inc. Sells 199 Shares of Wells Fargo & Company (NYSE:WFC)

Skyline Advisors Inc. reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 4.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 4,132 shares of the financial services provider’s stock after selling 199 shares during the period. Skyline Advisors Inc.’s holdings in Wells Fargo & Company were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of WFC. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company in the 4th quarter valued at $29,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.6 %

NYSE:WFC traded up $0.36 on Monday, reaching $59.75. The company’s stock had a trading volume of 3,245,794 shares, compared to its average volume of 18,445,119. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The business’s 50-day moving average price is $59.55 and its two-hundred day moving average price is $55.15. The firm has a market cap of $208.31 billion, a PE ratio of 12.40, a PEG ratio of 1.46 and a beta of 1.17. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 EPS. Equities research analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WFC. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. increased their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Jefferies Financial Group raised their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Morgan Stanley boosted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Finally, 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 report on Wednesday, March 20th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $59.15.

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.