LVW Advisors LLC Sells 418 Shares of Wells Fargo & Company (NYSE:WFC)

LVW Advisors LLC cut its stake in Wells Fargo & Company (NYSE:WFC) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,231 shares of the financial services provider’s stock after selling 418 shares during the period. LVW Advisors LLC’s holdings in Wells Fargo & Company were worth $465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Slagle Financial LLC lifted its holdings in shares of Wells Fargo & Company by 97.3% during the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after acquiring an additional 68,356 shares during the period. Ballentine Partners LLC increased its position in shares of Wells Fargo & Company by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after purchasing an additional 1,835 shares in the last quarter. Wedmont Private Capital increased its position in shares of Wells Fargo & Company by 16.4% during the 1st quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after purchasing an additional 21,496 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Wells Fargo & Company by 28.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock worth $27,441,000 after purchasing an additional 106,260 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC increased its position in shares of Wells Fargo & Company by 154.2% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 27,222 shares of the financial services provider’s stock worth $1,578,000 after purchasing an additional 16,515 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $60.99 on Friday. The stock’s 50-day simple moving average is $55.39 and its 200 day simple moving average is $57.78. The firm has a market capitalization of $212.63 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a twelve month low of $38.58 and a twelve month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.37 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the firm posted $1.39 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.12 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on WFC shares. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods dropped their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Finally, Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.65.

Wells Fargo & Company 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.