BerganKDV Wealth Management LLC Trims Stock Position in Wells Fargo & Company (NYSE:WFC)

BerganKDV Wealth Management LLC lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 0.5% in the 1st quarter, HoldingsChannel reports. The firm owned 105,468 shares of the financial services provider’s stock after selling 510 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Wells Fargo & Company were worth $5,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WFC. Qube Research & Technologies Ltd purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $31,496,000. FDx Advisors Inc. grew its position in Wells Fargo & Company by 107.6% during the fourth quarter. FDx Advisors Inc. now owns 29,038 shares of the financial services provider’s stock valued at $1,393,000 after buying an additional 15,052 shares during the period. Pinnacle Associates Ltd. grew its position in Wells Fargo & Company by 1.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 127,442 shares of the financial services provider’s stock valued at $6,115,000 after buying an additional 1,648 shares during the period. Valmark Advisers Inc. grew its position in Wells Fargo & Company by 28.3% during the fourth quarter. Valmark Advisers Inc. now owns 7,801 shares of the financial services provider’s stock valued at $374,000 after buying an additional 1,720 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in Wells Fargo & Company by 2.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 792,948 shares of the financial services provider’s stock valued at $38,562,000 after buying an additional 19,262 shares during the period. Hedge funds and other institutional investors own 74.01% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Citigroup dropped their price target on shares of Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. Jefferies Financial Group lowered their target price on shares of Wells Fargo & Company from $55.00 to $47.00 in a report on Monday, July 11th. Raymond James reduced their price target on shares of Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, June 24th. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 18th. Finally, Royal Bank of Canada reduced their price target on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, July 1st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.31.

Wells Fargo & Company Price Performance

NYSE WFC traded up $0.99 during trading hours on Friday, reaching $43.76. The company’s stock had a trading volume of 16,021,034 shares, compared to its average volume of 18,461,050. The stock has a market cap of $165.98 billion, a PE ratio of 10.49, a PEG ratio of 1.05 and a beta of 1.18. Wells Fargo & Company has a fifty-two week low of $36.54 and a fifty-two week high of $60.30. The company’s 50-day moving average is $41.50 and its two-hundred day moving average is $46.94. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.81.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The business had revenue of $17.03 billion during the quarter, compared to analyst estimates of $17.54 billion. Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. Wells Fargo & Company’s revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.38 earnings per share. Analysts forecast that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 5th will be paid a dividend of $0.30 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Thursday, August 4th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.78%.

Wells Fargo & Company Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It 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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