Wells Fargo & Company (NYSE:WFC) Holdings Trimmed by Sigma Planning Corp

Sigma Planning Corp trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 13.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,431 shares of the financial services provider’s stock after selling 7,800 shares during the period. Sigma Planning Corp’s holdings in Wells Fargo & Company were worth $3,472,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Truvestments Capital LLC purchased a new position in Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company during the 3rd quarter worth approximately $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.5 %

Wells Fargo & Company stock opened at $77.43 on Friday. The firm has a market cap of $257.81 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The firm has a fifty day moving average price of $75.20 and a two-hundred day moving average price of $67.01.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. As a group, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is 29.74%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research reports. Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.