Moreno Evelyn V Has $3.75 Million Stake in Wells Fargo & Co (WFC)

Moreno Evelyn V lessened its position in Wells Fargo & Co (NYSE:WFC) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,549 shares of the financial services provider’s stock after selling 1,955 shares during the quarter. Moreno Evelyn V’s holdings in Wells Fargo & Co were worth $3,747,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its stake in Wells Fargo & Co by 0.9% in the 4th quarter. Northern Trust Corp now owns 52,682,537 shares of the financial services provider’s stock worth $2,427,611,000 after buying an additional 449,328 shares during the period. Geode Capital Management LLC increased its stake in Wells Fargo & Co by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 51,636,368 shares of the financial services provider’s stock worth $2,375,189,000 after buying an additional 2,114,810 shares during the period. Norges Bank purchased a new position in Wells Fargo & Co in the 4th quarter worth about $2,004,580,000. Oregon Public Employees Retirement Fund increased its stake in Wells Fargo & Co by 4,415.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock worth $473,000 after buying an additional 21,307,608 shares during the period. Finally, Legal & General Group Plc increased its stake in Wells Fargo & Co by 4.9% in the 4th quarter. Legal & General Group Plc now owns 20,391,629 shares of the financial services provider’s stock worth $939,635,000 after buying an additional 947,264 shares during the period. Hedge funds and other institutional investors own 72.01% of the company’s stock.

NYSE WFC opened at $45.70 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35. The stock has a market cap of $222.91 billion, a price-to-earnings ratio of 10.43, a price-to-earnings-growth ratio of 0.87 and a beta of 1.09. Wells Fargo & Co has a one year low of $43.02 and a one year high of $59.53.

Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. The business had revenue of $21.61 billion for the quarter, compared to the consensus estimate of $20.89 billion. Wells Fargo & Co had a net margin of 22.59% and a return on equity of 13.37%. During the same quarter last year, the firm posted $0.96 EPS. On average, equities research analysts expect that Wells Fargo & Co will post 4.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.10%.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $46.51, for a total transaction of $1,316,419.04. Following the transaction, the insider now owns 3,066 shares of the company’s stock, valued at approximately $142,599.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.08% of the company’s stock.

WFC has been the topic of several recent analyst reports. Deutsche Bank reduced their price target on shares of Wells Fargo & Co from $54.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, April 15th. Raymond James raised shares of Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 price target on the stock in a research note on Friday, March 29th. Barclays reduced their price target on shares of Wells Fargo & Co from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, April 15th. Goldman Sachs Group downgraded shares of Wells Fargo & Co from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $58.00 to $48.00 in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods downgraded shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $58.00 to $50.00 in a research note on Sunday, March 31st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. Wells Fargo & Co currently has a consensus rating of “Hold” and a consensus target price of $56.35.

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About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

Further Reading: Diluted Earnings Per Share

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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