NWF Advisory Services Inc. Sells 7,747 Shares of Wells Fargo & Company $WFC

NWF Advisory Services Inc. lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,645 shares of the financial services provider’s stock after selling 7,747 shares during the quarter. NWF Advisory Services Inc.’s holdings in Wells Fargo & Company were worth $2,670,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Godfrey Financial Associates Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Miller Capital Partners Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Navalign LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $26,000. Joseph Group Capital Management acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $28,000. Finally, Core Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $29,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $82.31 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The stock has a market capitalization of $251.89 billion, a P/E ratio of 12.70, a P/E/G ratio of 0.96 and a beta of 0.93. The company has a 50 day moving average of $79.70 and a 200-day moving average of $84.59.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The business had revenue of $11.62 billion for the quarter, compared to analyst estimates of $21.85 billion. During the same quarter in the previous year, the firm posted $1.39 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that Wells Fargo & Company will post 6.86 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s payout ratio is presently 27.78%.

Analyst Ratings Changes

WFC has been the subject of several research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research report on Wednesday, April 15th. KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a research note on Thursday, April 16th. Jefferies Financial Group started coverage on shares of Wells Fargo & Company in a research note on Thursday, March 26th. They issued a “buy” rating and a $100.00 target price for the company. Morgan Stanley lowered their target price on Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.24.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.