Denali Advisors LLC Decreases Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Denali Advisors LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 61.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,800 shares of the financial services provider’s stock after selling 6,100 shares during the quarter. Denali Advisors LLC’s holdings in Wells Fargo & Company were worth $220,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of WFC. Fortis Group Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $25,000. Arlington Trust Co LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Core Wealth Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. increased its position in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WFC shares. Argus raised their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $59.36.

Wells Fargo & Company Trading Down 0.5 %

Shares of NYSE:WFC traded down $0.31 on Wednesday, hitting $60.66. 6,698,349 shares of the company’s stock were exchanged, compared to its average volume of 18,370,916. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The stock has a market capitalization of $211.48 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17. The business’s 50 day simple moving average is $59.54 and its two-hundred day simple moving average is $55.30. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.13 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. Wells Fargo & Company’s payout ratio is currently 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.