Avior Wealth Management LLC Sells 488 Shares of Wells Fargo & Company (NYSE:WFC)

Avior Wealth Management LLC cut its holdings in Wells Fargo & Company (NYSE:WFC) by 1.0% during the 4th quarter, Holdings Channel reports. The fund owned 50,010 shares of the financial services provider’s stock after selling 488 shares during the period. Avior Wealth Management LLC’s holdings in Wells Fargo & Company were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Kathmere Capital Management LLC raised its position in shares of Wells Fargo & Company by 19.5% during the 3rd quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 1,185 shares during the period. Stoneridge Investment Partners LLC increased its holdings in Wells Fargo & Company by 410.5% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after acquiring an additional 54,262 shares during the last quarter. United Services Automobile Association increased its holdings in Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after acquiring an additional 11,825 shares during the last quarter. Synovus Financial Corp increased its holdings in Wells Fargo & Company by 61.7% in the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after acquiring an additional 46,525 shares during the last quarter. Finally, Trust Point Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at $2,499,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WFC. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. HSBC lifted their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Raymond James lifted their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Jefferies Financial Group lifted their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Finally, Citigroup reissued a “neutral” rating and issued a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Thirteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Trading Down 1.0 %

Shares of WFC opened at $56.41 on Wednesday. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $58.44. The company has a 50-day moving average of $55.25 and a 200 day moving average of $48.55. The firm has a market capitalization of $199.71 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.15 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter last year, the business posted $1.23 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 4.86 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.48%. Wells Fargo & Company’s payout ratio is 29.23%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.