Sivia Capital Partners LLC Sells 182 Shares of Wells Fargo & Company (NYSE:WFC)

Sivia Capital Partners LLC lessened its holdings in Wells Fargo & Company (NYSE:WFC) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,304 shares of the financial services provider’s stock after selling 182 shares during the quarter. Sivia Capital Partners LLC’s holdings in Wells Fargo & Company were worth $597,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Hodges Capital Management Inc. bought a new stake in Wells Fargo & Company during the third quarter worth $486,000. AQR Capital Management LLC raised its position in Wells Fargo & Company by 6.7% during the third quarter. AQR Capital Management LLC now owns 358,464 shares of the financial services provider’s stock worth $14,647,000 after acquiring an additional 22,581 shares in the last quarter. Shelton Capital Management raised its position in Wells Fargo & Company by 46.2% during the third quarter. Shelton Capital Management now owns 94,325 shares of the financial services provider’s stock worth $3,854,000 after acquiring an additional 29,800 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 336.3% in the third quarter. Axxcess Wealth Management LLC now owns 53,427 shares of the financial services provider’s stock valued at $2,183,000 after purchasing an additional 41,182 shares during the last quarter. Finally, Alps Advisors Inc. increased its holdings in shares of Wells Fargo & Company by 76.8% in the third quarter. Alps Advisors Inc. now owns 23,743 shares of the financial services provider’s stock valued at $970,000 after purchasing an additional 10,312 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

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

Wells Fargo & Company Price Performance

WFC traded down $0.53 on Wednesday, hitting $60.44. 3,060,233 shares of the stock were exchanged, compared to its average volume of 18,342,270. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The business has a 50-day moving average of $59.54 and a two-hundred day moving average of $55.30. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a market capitalization of $210.71 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.46 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.23 earnings per share. Sell-side analysts forecast that Wells Fargo & Company will post 5.13 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Wells Fargo & 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.