Wells Fargo & Company (NYSE:WFC) Shares Sold by InterOcean Capital Group LLC

InterOcean Capital Group LLC lessened its position in Wells Fargo & Company (NYSE:WFC) by 16.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 53,548 shares of the financial services provider’s stock after selling 10,643 shares during the period. InterOcean Capital Group LLC’s holdings in Wells Fargo & Company were worth $2,636,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. WealthPlan Investment Management LLC boosted its position in shares of Wells Fargo & Company by 2,174.3% in the third quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 20,351 shares during the last quarter. Advisor OS LLC increased its stake in shares of Wells Fargo & Company by 15.8% in the third quarter. Advisor OS LLC now owns 6,301 shares of the financial services provider’s stock worth $257,000 after buying an additional 862 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Wells Fargo & Company by 18.9% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,233 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 992 shares during the last quarter. Main Street Financial Solutions LLC increased its stake in Wells Fargo & Company by 8.6% during the third quarter. Main Street Financial Solutions LLC now owns 7,509 shares of the financial services provider’s stock valued at $307,000 after purchasing an additional 592 shares during the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in Wells Fargo & Company by 3.0% during the third quarter. Bahl & Gaynor Inc. now owns 97,627 shares of the financial services provider’s stock valued at $3,989,000 after purchasing an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WFC. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. JPMorgan Chase & Co. upped their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Argus boosted their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, HSBC boosted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Fourteen investment 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 an average rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Trading Down 1.0 %

Wells Fargo & Company stock traded down $0.63 during trading hours on Wednesday, hitting $60.83. The stock had a trading volume of 4,496,469 shares, compared to its average volume of 18,503,408. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The stock has a market cap of $212.07 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 1.17 and a beta of 1.18. The business’s 50 day simple moving average is $58.87 and its 200-day simple moving average is $52.15.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.30%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Wells Fargo & Company 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.