Wells Fargo & Company (NYSE:WFC) Shares Sold by Hyman Charles D

Hyman Charles D lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 25.8% during the first quarter, Holdings Channel reports. The fund owned 55,127 shares of the financial services provider’s stock after selling 19,178 shares during the quarter. Hyman Charles D’s holdings in Wells Fargo & Company were worth $2,154,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Granite Investment Advisors LLC lifted its stake in shares of Wells Fargo & Company by 72.8% during the first quarter. Granite Investment Advisors LLC now owns 148,170 shares of the financial services provider’s stock valued at $5,789,000 after buying an additional 62,402 shares during the period. SOL Capital Management CO raised its holdings in Wells Fargo & Company by 8.0% in the 4th quarter. SOL Capital Management CO now owns 68,338 shares of the financial services provider’s stock valued at $2,062,000 after acquiring an additional 5,079 shares during the last quarter. Gibraltar Capital Management Inc. lifted its stake in shares of Wells Fargo & Company by 18.7% during the 1st quarter. Gibraltar Capital Management Inc. now owns 138,263 shares of the financial services provider’s stock worth $5,479,000 after purchasing an additional 21,786 shares during the period. Capital Investment Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 6.9% during the first quarter. Capital Investment Advisors LLC now owns 61,344 shares of the financial services provider’s stock worth $2,397,000 after purchasing an additional 3,958 shares during the last quarter. Finally, Calamos Wealth Management LLC grew its position in shares of Wells Fargo & Company by 1.3% in the first quarter. Calamos Wealth Management LLC now owns 260,397 shares of the financial services provider’s stock valued at $10,174,000 after purchasing an additional 3,346 shares during the period. Hedge funds and other institutional investors own 67.25% of the company’s stock.

Shares of WFC traded down $0.04 during trading hours on Tuesday, hitting $45.44. 746,592 shares of the stock traded hands, compared to its average volume of 34,776,301. The business has a fifty day moving average of $41.29 and a 200-day moving average of $32.85. The firm has a market capitalization of $187.86 billion, a PE ratio of 122.92, a price-to-earnings-growth ratio of 4.84 and a beta of 1.07. Wells Fargo & Company has a 1-year low of $20.76 and a 1-year high of $46.39. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.34.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, April 13th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.36. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The company had revenue of $18.06 billion for the quarter, compared to the consensus estimate of $17.42 billion. During the same period in the prior year, the company posted $0.01 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect that Wells Fargo & Company will post 0.48 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 7th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, May 6th. Wells Fargo & Company’s dividend payout ratio is presently 9.13%.

Several brokerages have commented on WFC. Jefferies Financial Group upped their price target on Wells Fargo & Company from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, April 9th. Raymond James raised their price objective on Wells Fargo & Company from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 21st. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 21st. BMO Capital Markets increased their price objective on Wells Fargo & Company from $40.00 to $43.00 in a research note on Thursday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Wells Fargo & Company from $41.50 to $47.00 and gave the company a “neutral” rating in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $40.83.

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating 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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