SVB Wealth LLC Lowers Stake in Wells Fargo & Company (NYSE:WFC)

SVB Wealth LLC lowered its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,911 shares of the financial services provider’s stock after selling 1,217 shares during the quarter. SVB Wealth LLC’s holdings in Wells Fargo & Company were worth $3,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in WFC. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company in the 4th quarter worth $29,000. Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth $32,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter worth $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.80 during midday trading on Monday, reaching $59.59. 8,946,980 shares of the company traded hands, compared to its average volume of 18,212,191. The firm has a market capitalization of $207.75 billion, a price-to-earnings ratio of 12.24, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The business has a 50 day moving average of $59.15 and a two-hundred day moving average of $56.59. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 earnings per share. As a group, research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be given a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. Wells Fargo & Company’s dividend payout ratio is 28.75%.

Wall Street Analyst Weigh In

WFC has been the topic of a number of recent analyst reports. Argus raised their price target on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods cut their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Morgan Stanley lifted their target price on shares of 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, BMO Capital Markets lifted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.31.

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.