Hyman Charles D Cuts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Hyman Charles D trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,900 shares of the financial services provider’s stock after selling 1,949 shares during the period. Hyman Charles D’s holdings in Wells Fargo & Company were worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $25,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at approximately $29,000. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company during the third quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $32,000. Finally, Bfsg LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.1 %

NYSE WFC traded up $0.05 during trading hours on Tuesday, reaching $60.24. 16,268,222 shares of the company traded hands, compared to its average volume of 18,899,662. The company has a 50 day moving average of $57.86 and a two-hundred day moving average of $50.62. The stock has a market capitalization of $210.02 billion, a PE ratio of 12.58, a PEG ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $37.18 and a 12 month high of $61.76. 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 posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the firm earned $1.23 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.32%. Wells Fargo & Company’s payout ratio is 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research analyst reports. Evercore ISI upped their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Jefferies Financial Group boosted their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research 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 report on Monday, April 15th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, HSBC lifted their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.99.

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.