Powers Advisory Group LLC Sells 1,047 Shares of Wells Fargo & Company (NYSE:WFC)

Powers Advisory Group LLC lessened its position in Wells Fargo & Company (NYSE:WFC) by 18.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,482 shares of the financial services provider’s stock after selling 1,047 shares during the period. Powers Advisory Group LLC’s holdings in Wells Fargo & Company were worth $260,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Slagle Financial LLC lifted its stake in shares of Wells Fargo & Company by 97.3% in the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after purchasing an additional 68,356 shares during the period. Ballentine Partners LLC lifted its position in Wells Fargo & Company by 5.4% in the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after buying an additional 1,835 shares during the last quarter. Trust Point Inc. acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $2,499,000. Wedmont Private Capital lifted its position in Wells Fargo & Company by 16.4% in the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after buying an additional 21,496 shares during the last quarter. Finally, G2 Capital Management LLC OH acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $278,000. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Argus increased their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, Evercore ISI increased their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $59.36.

Wells Fargo & Company Stock Down 0.5 %

NYSE WFC traded down $0.31 during trading on Thursday, reaching $60.66. 6,698,813 shares of the company’s stock were exchanged, compared to its average volume of 18,808,808. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The firm has a market capitalization of $211.48 billion, a PE ratio of 12.66, a P/E/G ratio of 1.50 and a beta of 1.17. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company’s fifty day simple moving average is $59.54 and its 200-day simple moving average is $55.34.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the business earned $1.23 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts predict that Wells Fargo & Company will post 5.13 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, May 9th. 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.