Adero Partners LLC Sells 14,297 Shares of Wells Fargo & Company (NYSE:WFC)

Adero Partners LLC cut its position in Wells Fargo & Company (NYSE:WFC) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,853 shares of the financial services provider’s stock after selling 14,297 shares during the quarter. Adero Partners LLC’s holdings in Wells Fargo & Company were worth $1,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Financial Corp IN grew its stake in shares of Wells Fargo & Company by 4.9% during the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 214 shares during the period. CX Institutional grew its stake in shares of Wells Fargo & Company by 1.1% during the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after acquiring an additional 217 shares during the period. Cape Investment Advisory Inc. grew its stake in shares of Wells Fargo & Company by 3.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider’s stock worth $332,000 after acquiring an additional 219 shares during the period. Cassaday & Co Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 4.1% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider’s stock worth $278,000 after acquiring an additional 224 shares during the period. Finally, ERTS Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 3.5% during the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 228 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 1.2 %

WFC traded up $0.71 on Friday, hitting $59.92. 25,386,837 shares of the company were exchanged, compared to its average volume of 14,286,395. The firm has a fifty day simple moving average of $59.24 and a two-hundred day simple moving average of $53.04. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The stock has a market capitalization of $208.90 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.56 and a beta of 1.18.

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 (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion for 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% compared to the same quarter last year. During the same period last year, the company earned $1.23 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s payout ratio is currently 29.23%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WFC. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. HSBC increased their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. increased their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, The Goldman Sachs Group increased their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.99.

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.