Larson Financial Group LLC Sells 810 Shares of Wells Fargo & Company (NYSE:WFC)

Larson Financial Group LLC lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 31.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,727 shares of the financial services provider’s stock after selling 810 shares during the period. Larson Financial Group LLC’s holdings in Wells Fargo & Company were worth $100,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WFC. EP Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 1,193.1% during the 3rd quarter. EP Wealth Advisors LLC now owns 140,095 shares of the financial services provider’s stock worth $5,724,000 after buying an additional 129,261 shares in the last quarter. Trust Co. of Vermont increased its holdings in Wells Fargo & Company by 3.9% in the 3rd quarter. Trust Co. of Vermont now owns 11,662 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 442 shares in the last quarter. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company in the 3rd quarter worth about $25,000. Raleigh Capital Management Inc. increased its holdings in Wells Fargo & Company by 5.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,855 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 304 shares in the last quarter. Finally, Hudson Bay Capital Management LP increased its holdings in Wells Fargo & Company by 134.0% in the 3rd quarter. Hudson Bay Capital Management LP now owns 436,500 shares of the financial services provider’s stock worth $17,835,000 after purchasing an additional 250,000 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WFC. HSBC upped their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Argus upped their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Jefferies Financial Group upped their price target on Wells Fargo & Company from $62.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Thirteen 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.36.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.18 during trading on Wednesday, reaching $59.70. The company had a trading volume of 12,092,711 shares, compared to its average volume of 18,178,027. 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 firm’s 50-day simple moving average is $59.54 and its 200 day simple moving average is $55.67. The firm has a market capitalization of $208.13 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The company 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%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $1.23 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

About Wells Fargo & Company

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.