OneAscent Wealth Management LLC Sells 338 Shares of Wells Fargo & Company (NYSE:WFC)

OneAscent Wealth Management LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,725 shares of the financial services provider’s stock after selling 338 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Wells Fargo & Company were worth $564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth about $25,000. Arlington Trust Co LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at about $25,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth approximately $29,000. Fortis Group Advisors LLC bought a new stake in shares of Wells Fargo & Company during the third quarter worth approximately $25,000. Finally, Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $32,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $1.97 during mid-day trading on Friday, reaching $59.39. The company’s stock had a trading volume of 31,074,465 shares, compared to its average volume of 18,610,088. The business has a 50-day simple moving average of $59.55 and a two-hundred day simple moving average of $55.04. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The stock has a market cap of $207.05 billion, a P/E ratio of 12.40, a PEG ratio of 1.42 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.

Wells Fargo & Company (NYSE:WFC) last announced its 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. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. Wells Fargo & Company’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.36%. Wells Fargo & Company’s dividend payout ratio is 29.23%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WFC shares. Argus increased their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Citigroup reiterated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. HSBC raised their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, March 28th. Finally, Evercore ISI increased their target price on Wells Fargo & Company from $69.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $59.15.

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.