Wells Fargo (WFC) Shares Sold by Northwest Capital Management Inc

Northwest Capital Management Inc trimmed its position in Wells Fargo (NYSE:WFC) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,304 shares of the financial services provider’s stock after selling 1,042 shares during the quarter. Wells Fargo makes up approximately 2.2% of Northwest Capital Management Inc’s holdings, making the stock its 12th largest position. Northwest Capital Management Inc’s holdings in Wells Fargo were worth $2,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. increased its holdings in shares of Wells Fargo by 15.0% in the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 6,387 shares of the financial services provider’s stock valued at $388,000 after acquiring an additional 832 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Wells Fargo by 4.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 21,386 shares of the financial services provider’s stock valued at $1,297,000 after acquiring an additional 868 shares during the last quarter. Milestone Group Inc. increased its holdings in shares of Wells Fargo by 13.3% in the 4th quarter. Milestone Group Inc. now owns 7,407 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 868 shares during the last quarter. Enterprise Financial Services Corp increased its holdings in shares of Wells Fargo by 22.0% in the 4th quarter. Enterprise Financial Services Corp now owns 4,892 shares of the financial services provider’s stock valued at $297,000 after acquiring an additional 882 shares during the last quarter. Finally, Heritage Wealth Advisors increased its holdings in shares of Wells Fargo by 3.3% in the 4th quarter. Heritage Wealth Advisors now owns 28,007 shares of the financial services provider’s stock valued at $1,694,000 after acquiring an additional 892 shares during the last quarter. Institutional investors and hedge funds own 76.79% of the company’s stock.

Shares of Wells Fargo opened at $53.70 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.27. Wells Fargo has a 1 year low of $49.27 and a 1 year high of $66.31. The firm has a market cap of $264.47 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13.

Wells Fargo (NYSE:WFC) last announced its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.05. Wells Fargo had a return on equity of 12.46% and a net margin of 22.80%. The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $21.74 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. equities analysts expect that Wells Fargo will post 4.57 EPS for the current year.

Wells Fargo declared that its Board of Directors has initiated a share buyback program on Tuesday, January 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 4th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.91%. Wells Fargo’s dividend payout ratio (DPR) is presently 37.96%.

A number of research firms recently issued reports on WFC. Vetr upgraded Wells Fargo from a “sell” rating to a “hold” rating and set a $54.78 price objective for the company in a research report on Monday, February 12th. UBS set a $63.00 price objective on Wells Fargo and gave the company a “hold” rating in a research report on Monday, February 5th. BMO Capital Markets restated a “hold” rating and set a $60.00 price objective on shares of Wells Fargo in a research report on Monday, February 5th. Keefe, Bruyette & Woods lowered Wells Fargo from an “outperform” rating to a “market perform” rating and set a $63.00 price objective for the company. in a research report on Sunday, February 4th. Finally, Zacks Investment Research lowered Wells Fargo from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $61.83.

Wells Fargo Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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

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