Transcend Capital Advisors LLC Sells 2,418 Shares of Wells Fargo & Company (NYSE:WFC)

Transcend Capital Advisors LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% in the fourth quarter, Holdings Channel reports. The fund owned 49,559 shares of the financial services provider’s stock after selling 2,418 shares during the period. Transcend Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $3,481,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Paradigm Asset Management Co. LLC raised its holdings in shares of Wells Fargo & Company by 50.2% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 64,352 shares of the financial services provider’s stock valued at $4,520,000 after buying an additional 21,500 shares during the last quarter. Grove Street Fiduciary LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $265,000. Arcadia Investment Management Corp MI raised its holdings in shares of Wells Fargo & Company by 22.1% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,221 shares of the financial services provider’s stock valued at $86,000 after buying an additional 221 shares during the last quarter. Centricity Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at about $51,000. Finally, Zullo Investment Group Inc. raised its holdings in shares of Wells Fargo & Company by 5.7% in the fourth quarter. Zullo Investment Group Inc. now owns 6,180 shares of the financial services provider’s stock valued at $434,000 after buying an additional 333 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $78.69 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The business has a 50-day moving average of $75.06 and a 200-day moving average of $66.73. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm has a market capitalization of $262.00 billion, a P/E ratio of 14.63, a PEG ratio of 1.20 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same period in the previous year, the firm earned $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WFC. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. UBS Group lifted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Citigroup boosted their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Evercore ISI boosted their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.