MONECO Advisors LLC Sells 583 Shares of Wells Fargo & Company (NYSE:WFC)

MONECO Advisors LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 7.9% in the 4th quarter, Holdings Channel reports. The firm owned 6,841 shares of the financial services provider’s stock after selling 583 shares during the quarter. MONECO Advisors LLC’s holdings in Wells Fargo & Company were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $2,623,044,000. Northern Trust Corp raised its position in Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after purchasing an additional 129,300 shares in the last quarter. Capital World Investors boosted its holdings in Wells Fargo & Company by 1.0% during the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after purchasing an additional 263,176 shares in the last quarter. Sanders Capital LLC grew its stake in shares of Wells Fargo & Company by 3.2% in the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after purchasing an additional 781,772 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Wells Fargo & Company by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after buying an additional 526,178 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WFC. Evercore ISI boosted their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. JPMorgan Chase & Co. upped their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. HSBC boosted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, March 28th. Finally, Citigroup reaffirmed a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Fourteen equities 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. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $58.99.

Get Our Latest Research Report on Wells Fargo & Company

Wells Fargo & Company Trading Up 1.2 %

NYSE:WFC traded up $0.69 on Monday, reaching $58.09. The company’s stock had a trading volume of 10,737,534 shares, compared to its average volume of 17,969,285. 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 $59.38 and its two-hundred day moving average price is $54.25. The firm has a market cap of $202.52 billion, a PE ratio of 12.05, a PEG ratio of 1.49 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:WFCGet Free Report) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the business posted $1.23 EPS. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is 29.23%.

About Wells Fargo & Company

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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