Bard Financial Services Inc. decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 12.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 113,440 shares of the financial services provider’s stock after selling 16,450 shares during the period. Bard Financial Services Inc.’s holdings in Wells Fargo & Company were worth $5,497,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Level Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $25,000. Gibson Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. KRS Capital Management LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $28,000. Addison Advisors LLC grew its position in Wells Fargo & Company by 141.0% in the 4th quarter. Addison Advisors LLC now owns 629 shares of the financial services provider’s stock valued at $30,000 after buying an additional 368 shares during the last quarter. Finally, US Asset Management LLC acquired a new position in shares of Wells Fargo & Company during the 1st quarter worth $32,000. 74.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WFC traded down $0.52 during trading on Thursday, reaching $38.08. The company’s stock had a trading volume of 197,690 shares, compared to its average volume of 22,834,908. The company has a fifty day moving average of $43.55 and a two-hundred day moving average of $49.10. Wells Fargo & Company has a twelve month low of $36.54 and a twelve month high of $60.30. The company has a market cap of $144.34 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 0.94 and a beta of 1.13. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.95.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $1.00 annualized dividend and a dividend yield of 2.63%. Wells Fargo & Company’s payout ratio is 20.79%.
In other news, EVP Kleber Santos sold 22,700 shares of the company’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total value of $1,008,788.00. Following the completion of the sale, the executive vice president now owns 21,478 shares in the company, valued at $954,482.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.05% of the company’s stock.
WFC has been the subject of several research reports. StockNews.com initiated coverage on Wells Fargo & Company in a research note on Thursday, March 31st. They set a “hold” rating for the company. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $54.00 to $56.00 in a research note on Thursday, April 14th. Piper Sandler set a $48.00 price objective on Wells Fargo & Company in a research report on Monday. Barclays lifted their price objective on Wells Fargo & Company from $62.00 to $64.00 in a research report on Monday, April 18th. Finally, Morgan Stanley dropped their price objective on Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, March 28th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.62.
Wells Fargo & Company Profile (Get Rating)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
- Get a free copy of the StockNews.com research report on Wells Fargo & Company (WFC)
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