Wells Fargo & Co (WFC) Holdings Reduced by Bartlett & Co. LLC

Bartlett & Co. LLC reduced its holdings in Wells Fargo & Co (NYSE:WFC) by 12.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,593 shares of the financial services provider’s stock after selling 15,038 shares during the period. Bartlett & Co. LLC’s holdings in Wells Fargo & Co were worth $5,006,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Telos Capital Management Inc. boosted its stake in Wells Fargo & Co by 4.2% in the fourth quarter. Telos Capital Management Inc. now owns 5,390 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 216 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its position in shares of Wells Fargo & Co by 3.6% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 6,600 shares of the financial services provider’s stock worth $304,000 after acquiring an additional 229 shares during the last quarter. Augustine Asset Management Inc. raised its position in shares of Wells Fargo & Co by 1.6% during the first quarter. Augustine Asset Management Inc. now owns 15,182 shares of the financial services provider’s stock worth $733,000 after acquiring an additional 241 shares during the last quarter. Massey Quick Simon & CO. LLC raised its position in shares of Wells Fargo & Co by 8.0% during the fourth quarter. Massey Quick Simon & CO. LLC now owns 3,354 shares of the financial services provider’s stock worth $155,000 after acquiring an additional 249 shares during the last quarter. Finally, Bray Capital Advisors raised its position in shares of Wells Fargo & Co by 2.7% during the fourth quarter. Bray Capital Advisors now owns 9,935 shares of the financial services provider’s stock worth $458,000 after acquiring an additional 257 shares during the last quarter. 71.12% of the stock is currently owned by institutional investors.

In other Wells Fargo & Co news, insider Petros G. Pelos sold 28,304 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 3,066 shares in the company, valued at $142,599.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.08% of the stock is owned by corporate insiders.

A number of research firms have recently weighed in on WFC. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Raymond James upgraded Wells Fargo & Co from an “underperform” rating to a “market perform” rating and set a $50.08 price objective for the company in a report on Friday, March 29th. Deutsche Bank downgraded Wells Fargo & Co from a “buy” rating to a “hold” rating and dropped their price objective for the company from $56.00 to $54.00 in a report on Friday, March 29th. Keefe, Bruyette & Woods downgraded Wells Fargo & Co from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $58.00 to $50.00 in a report on Sunday, March 31st. Finally, Morgan Stanley dropped their price objective on Wells Fargo & Co from $55.00 to $51.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $56.22.

NYSE WFC opened at $45.56 on Friday. The stock has a market capitalization of $225.99 billion, a P/E ratio of 10.40, a P/E/G ratio of 0.88 and a beta of 1.09. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.35. Wells Fargo & Co has a 12 month low of $43.02 and a 12 month high of $59.53.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $20.89 billion. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, equities research analysts predict that Wells Fargo & Co will post 4.73 EPS for the current year.

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.80 annualized dividend and a dividend yield of 3.95%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 41.10%.

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Wells Fargo & Co Company 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.

Further Reading: Are sell-side analysts objective?

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

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