Avior Wealth Management LLC Sells 488 Shares of Wells Fargo & Company (NYSE:WFC)

Avior Wealth Management LLC lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,010 shares of the financial services provider’s stock after selling 488 shares during the quarter. Avior Wealth Management LLC’s holdings in Wells Fargo & Company were worth $2,462,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Defender Capital LLC. acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $246,000. Fairfield Bush & CO. acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $124,000. Dakota Wealth Management acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $222,000. Candriam Luxembourg S.C.A. grew its stake in shares of Wells Fargo & Company by 0.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock worth $13,274,000 after purchasing an additional 770 shares during the period. Finally, Zions Bancorporation N.A. grew its stake in shares of Wells Fargo & Company by 24.5% during the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 1,895 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. HSBC lifted their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Piper Sandler reduced their price objective on Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Jefferies Financial Group upped their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Stock Performance

WFC opened at $56.41 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The business’s 50-day simple moving average is $55.25 and its 200 day simple moving average is $48.55. The firm has a market capitalization of $199.71 billion, a PE ratio of 11.77, a PEG ratio of 1.15 and a beta of 1.19. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $58.44.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) 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 firm had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the company earned $1.23 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 4.86 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 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.