Wells Fargo & Company (NYSE:WFC) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 19.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,672 shares of the financial services provider’s stock after selling 10,682 shares during the quarter. Evercore Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,784,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in WFC. Norges Bank acquired a new position in Wells Fargo & Company in the fourth quarter valued at approximately $1,122,406,000. Price T Rowe Associates Inc. MD raised its stake in shares of Wells Fargo & Company by 21.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 128,990,462 shares of the financial services provider’s stock worth $5,039,658,000 after purchasing an additional 22,458,740 shares during the last quarter. Windacre Partnership LLC raised its stake in shares of Wells Fargo & Company by 87.6% during the fourth quarter. Windacre Partnership LLC now owns 12,244,100 shares of the financial services provider’s stock worth $369,527,000 after purchasing an additional 5,717,300 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Wells Fargo & Company by 28.7% during the first quarter. Nuveen Asset Management LLC now owns 18,651,778 shares of the financial services provider’s stock worth $728,724,000 after purchasing an additional 4,164,750 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Wells Fargo & Company by 18.8% during the first quarter. Morgan Stanley now owns 22,798,501 shares of the financial services provider’s stock worth $890,737,000 after purchasing an additional 3,614,138 shares during the last quarter. 69.18% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on WFC shares. Royal Bank of Canada upped their price target on Wells Fargo & Company from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 7th. UBS Group restated a “neutral” rating and set a $47.00 price target (up previously from $40.00) on shares of Wells Fargo & Company in a research note on Tuesday, May 25th. Zacks Investment Research raised Wells Fargo & Company from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective on the stock in a report on Friday, April 16th. JPMorgan Chase & Co. upped their price objective on Wells Fargo & Company from $41.50 to $47.00 and gave the stock a “neutral” rating in a report on Monday, May 3rd. Finally, Morgan Stanley upped their price objective on Wells Fargo & Company from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Thursday, April 15th. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $45.70.

WFC opened at $45.80 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $189.32 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 1.03 and a beta of 1.35. Wells Fargo & Company has a 52 week low of $20.76 and a 52 week high of $48.13. The firm’s fifty day moving average is $45.31.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 13th. The financial services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.40. The business had revenue of $20.27 billion for the quarter, compared to analyst estimates of $17.69 billion. Wells Fargo & Company had a return on equity of 9.85% and a net margin of 19.79%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.66) earnings per share. On average, research analysts forecast that Wells Fargo & Company will post 4.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Friday, May 7th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, May 6th. This represents a $0.40 annualized dividend and a yield of 0.87%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 72.73%.

Wells Fargo & Company Profile

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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

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