Western Wealth Management LLC Has $996,000 Position in Wells Fargo & Company (NYSE:WFC)

Western Wealth Management LLC lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,226 shares of the financial services provider’s stock after selling 362 shares during the quarter. Western Wealth Management LLC’s holdings in Wells Fargo & Company were worth $996,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Stoneridge Investment Partners LLC boosted its holdings in Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after acquiring an additional 54,262 shares during the last quarter. United Services Automobile Association boosted its holdings in Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after acquiring an additional 11,825 shares during the last quarter. Synovus Financial Corp boosted its holdings in Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after acquiring an additional 46,525 shares during the last quarter. Trust Point Inc. purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $2,499,000. Finally, Golden State Equity Partners boosted its holdings in shares of Wells Fargo & Company by 98.8% in the 3rd quarter. Golden State Equity Partners now owns 60,998 shares of the financial services provider’s stock worth $2,492,000 after buying an additional 30,316 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.7 %

Shares of WFC opened at $60.36 on Friday. The firm has a market cap of $213.68 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.14 and a beta of 1.19. The stock has a 50 day simple moving average of $55.88 and a two-hundred day simple moving average of $48.82. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 1 year low of $36.40 and a 1 year high of $60.85.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 earnings per share. On average, analysts forecast that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WFC. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a report on Monday, January 8th. Citigroup restated a “neutral” rating and issued a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Morgan Stanley boosted their price objective on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Evercore ISI boosted their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Thirteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $58.85.

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.