Wells Fargo & Co (WFC) Position Decreased by E&G Advisors LP

E&G Advisors LP reduced its holdings in Wells Fargo & Co (NYSE:WFC) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,598 shares of the financial services provider’s stock after selling 1,500 shares during the period. E&G Advisors LP’s holdings in Wells Fargo & Co were worth $367,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WFC. Eqis Capital Management Inc. raised its stake in shares of Wells Fargo & Co by 20.5% during the 1st quarter. Eqis Capital Management Inc. now owns 22,107 shares of the financial services provider’s stock worth $1,068,000 after purchasing an additional 3,765 shares in the last quarter. Beacon Financial Group raised its stake in shares of Wells Fargo & Co by 0.5% during the 1st quarter. Beacon Financial Group now owns 131,254 shares of the financial services provider’s stock worth $6,342,000 after purchasing an additional 638 shares in the last quarter. Rothschild Investment Corp IL raised its stake in shares of Wells Fargo & Co by 44.9% during the 1st quarter. Rothschild Investment Corp IL now owns 22,608 shares of the financial services provider’s stock worth $1,092,000 after purchasing an additional 7,001 shares in the last quarter. Oakbrook Investments LLC raised its stake in shares of Wells Fargo & Co by 1.3% during the 1st quarter. Oakbrook Investments LLC now owns 175,150 shares of the financial services provider’s stock worth $8,463,000 after purchasing an additional 2,240 shares in the last quarter. Finally, Daiwa SB Investments Ltd. purchased a new stake in shares of Wells Fargo & Co during the 1st quarter worth about $368,000. 72.01% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on WFC shares. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Deutsche Bank downgraded Wells Fargo & Co from a “buy” rating to a “hold” rating and cut their price objective for the company from $56.00 to $54.00 in a research note on Friday, March 29th. Raymond James raised Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 price objective on the stock in a research note on Friday, March 29th. Keefe, Bruyette & Woods downgraded Wells Fargo & Co from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $58.00 to $50.00 in a research note on Sunday, March 31st. Finally, Goldman Sachs Group downgraded Wells Fargo & Co from a “buy” rating to a “neutral” rating and cut their price objective for the company from $58.00 to $48.00 in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $56.35.

Shares of WFC stock opened at $45.45 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.35. Wells Fargo & Co has a twelve month low of $43.02 and a twelve month high of $59.53. The company has a market capitalization of $223.23 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.86 and a beta of 1.09.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. The business had revenue of $21.61 billion for the quarter, compared to the consensus estimate of $20.89 billion. During the same period last year, the business earned $0.96 EPS. On average, research analysts forecast 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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 41.10%.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $46.51, for a total value of $1,316,419.04. Following the sale, 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 accessible through this link. Company insiders own 0.08% of the company’s stock.

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Wells Fargo & Co Profile

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.

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

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