Wells Fargo & Company (NYSE:WFC) Holdings Trimmed by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 17.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,250 shares of the financial services provider’s stock after selling 700 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Wells Fargo & Company were worth $188,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Clearstead Trust LLC boosted its stake in Wells Fargo & Company by 13.0% during the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after buying an additional 186 shares in the last quarter. Fruth Investment Management lifted its holdings in shares of Wells Fargo & Company by 3.2% during the first quarter. Fruth Investment Management now owns 6,518 shares of the financial services provider’s stock valued at $377,000 after purchasing an additional 200 shares during the last quarter. Lazari Capital Management Inc. lifted its holdings in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Lazari Capital Management Inc. now owns 22,804 shares of the financial services provider’s stock valued at $1,122,000 after purchasing an additional 202 shares during the last quarter. Webster Bank N. A. lifted its stake in Wells Fargo & Company by 2.0% in the 1st quarter. Webster Bank N. A. now owns 10,153 shares of the financial services provider’s stock worth $588,000 after acquiring an additional 202 shares in the last quarter. Finally, Cape Investment Advisory Inc. lifted its stake in Wells Fargo & Company by 3.4% in 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 in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC traded down $0.06 during midday trading on Monday, reaching $59.17. The company’s stock had a trading volume of 13,637,760 shares, compared to its average volume of 18,452,313. The stock has a market cap of $206.28 billion, a P/E ratio of 12.15, a PEG ratio of 1.46 and a beta of 1.17. The company has a fifty day simple moving average of $59.29 and a 200 day simple moving average of $56.30. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 EPS. Research analysts expect that Wells Fargo & Company will post 5.12 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.75%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. 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 research note on Monday, April 1st. Argus increased their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Jefferies Financial Group increased their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. 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 research note on Wednesday, May 1st. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $67.00 target price (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Thirteen 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $59.31.

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.