Moreno Evelyn V Reduces Stake in Wells Fargo & Company (WFC)
Moreno Evelyn V decreased its position in Wells Fargo & Company (NYSE:WFC) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 132,255 shares of the financial services provider’s stock after selling 1,275 shares during the period. Wells Fargo & makes up 2.2% of Moreno Evelyn V’s portfolio, making the stock its 15th largest position. Moreno Evelyn V’s holdings in Wells Fargo & were worth $7,327,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alexandria Capital LLC raised its position in Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares during the period. Brick & Kyle Associates raised its position in shares of Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Wells Fargo & during the first quarter valued at about $124,000. Gradient Investments LLC raised its position in shares of Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock valued at $139,000 after buying an additional 921 shares during the last quarter. Finally, America First Investment Advisors LLC raised its position in shares of Wells Fargo & by 8.3% in the second quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock valued at $145,000 after buying an additional 200 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.
Shares of Wells Fargo & Company (NYSE WFC) traded down 0.60% during midday trading on Tuesday, hitting $51.32. 5,386,381 shares of the stock traded hands. Wells Fargo & Company has a 52 week low of $43.55 and a 52 week high of $59.99. The firm’s 50-day moving average is $53.60 and its 200 day moving average is $54.71. The company has a market capitalization of $254.75 billion, a price-to-earnings ratio of 12.64 and a beta of 0.95.
Wells Fargo & (NYSE:WFC) last announced its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The firm had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post $4.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be given a $0.39 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $1.56 annualized dividend and a yield of 3.02%. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. Wells Fargo &’s payout ratio is presently 38.42%.
Wells Fargo & announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that permits the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of equities analysts recently issued reports on the company. Vetr lowered Wells Fargo & from a “buy” rating to a “hold” rating and set a $57.21 price target on the stock. in a report on Thursday, May 4th. Jefferies Group LLC restated a “hold” rating and issued a $62.00 price objective on shares of Wells Fargo & in a research report on Monday, May 8th. Evercore ISI reduced their price target on shares of Wells Fargo & from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, May 12th. Keefe, Bruyette & Woods set a $62.00 price target on shares of Wells Fargo & and gave the company a “buy” rating in a research report on Friday, May 19th. Finally, BidaskClub upgraded shares of Wells Fargo & from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $55.83.
In other news, insider Mary T. Mack sold 38,988 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $52.58, for a total transaction of $2,049,989.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Hope A. Hardison sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $52.07, for a total value of $1,041,400.00. Following the transaction, the insider now directly owns 109 shares in the company, valued at $5,675.63. The disclosure for this sale can be found here. Insiders sold 131,278 shares of company stock valued at $6,940,120 in the last quarter. Corporate insiders own 0.22% of the company’s stock.
Wells Fargo & Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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