WealthPLAN Partners LLC Lowers Position in Wells Fargo & Company (NYSE:WFC)


Share on StockTwits

WealthPLAN Partners LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 44.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,308 shares of the financial services provider’s stock after selling 64,626 shares during the period. WealthPLAN Partners LLC’s holdings in Wells Fargo & Company were worth $2,688,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC grew its holdings in Wells Fargo & Company by 51.1% during the third quarter. Clear Harbor Asset Management LLC now owns 216,567 shares of the financial services provider’s stock valued at $5,091,000 after purchasing an additional 73,225 shares during the period. Landsberg Bennett & Dubbaneh LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth $248,000. Altium Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 21.4% in the third quarter. Altium Wealth Management LLC now owns 35,516 shares of the financial services provider’s stock worth $835,000 after acquiring an additional 6,250 shares during the period. Bradley Foster & Sargent Inc. CT bought a new position in shares of Wells Fargo & Company in the third quarter worth $1,227,000. Finally, Essex Savings Bank raised its position in shares of Wells Fargo & Company by 15.0% in the third quarter. Essex Savings Bank now owns 23,037 shares of the financial services provider’s stock worth $541,000 after buying an additional 3,000 shares in the last quarter. 67.25% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on the company. Compass Point upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Friday, November 6th. Royal Bank of Canada upgraded Wells Fargo & Company from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $25.00 to $31.00 in a report on Monday, November 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on Wells Fargo & Company from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, January 28th. Zacks Investment Research raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Thursday, January 21st. Finally, Seaport Global Securities raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Tuesday, January 19th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Wells Fargo & Company currently has an average rating of “Buy” and an average price target of $33.80.

NYSE WFC traded down $0.53 during mid-day trading on Tuesday, reaching $36.73. The stock had a trading volume of 1,216,755 shares, compared to its average volume of 38,163,500. Wells Fargo & Company has a 1 year low of $20.76 and a 1 year high of $46.95. The stock has a market cap of $151.86 billion, a PE ratio of 100.70, a price-to-earnings-growth ratio of 4.84 and a beta of 1.07. The company has a fifty day moving average price of $32.83 and a 200 day moving average price of $27.29. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.87 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Thursday, January 14th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.04. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The company had revenue of $17.93 billion during the quarter, compared to analyst estimates of $18 billion. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 0.48 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Friday, February 5th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, February 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. Wells Fargo & Company’s dividend payout ratio is presently 9.13%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

Recommended Story: What is the accumulation/distribution indicator?

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

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.