KLCM Advisors Inc. Decreases Stake in Wells Fargo & Company $WFC

KLCM Advisors Inc. cut its position in Wells Fargo & Company (NYSE:WFC) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 222,740 shares of the financial services provider’s stock after selling 7,295 shares during the quarter. Wells Fargo & Company accounts for about 1.8% of KLCM Advisors Inc.’s holdings, making the stock its 7th largest holding. KLCM Advisors Inc.’s holdings in Wells Fargo & Company were worth $20,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of WFC. Redmont Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the third quarter worth $27,000. Marquette Asset Management LLC boosted its stake in Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares during the period. Joseph Group Capital Management bought a new stake in Wells Fargo & Company during the fourth quarter valued at $28,000. Grey Fox Wealth Advisors LLC purchased a new position in Wells Fargo & Company during the third quarter worth about $30,000. Finally, Imprint Wealth LLC bought a new position in Wells Fargo & Company in the 3rd quarter worth about $31,000. 75.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Kleber Santos sold 25,000 shares of Wells Fargo & Company stock in a transaction on Friday, February 20th. The shares were sold at an average price of $87.72, for a total value of $2,193,000.00. Following the sale, the executive vice president owned 79,876 shares in the company, valued at $7,006,722.72. The trade was a 23.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bridget E. Engle sold 30,000 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $87.10, for a total transaction of $2,613,000.00. Following the transaction, the executive vice president directly owned 83,478 shares in the company, valued at approximately $7,270,933.80. The trade was a 26.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 115,000 shares of company stock valued at $10,050,000 over the last quarter. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on WFC shares. Argus raised their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, January 15th. JPMorgan Chase & Co. decreased their price objective on shares of Wells Fargo & Company from $91.00 to $86.50 and set a “neutral” rating on the stock in a research report on Thursday, April 30th. Wall Street Zen downgraded shares of Wells Fargo & Company from a “hold” rating to a “sell” rating in a research note on Saturday, April 25th. Freedom Capital lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 15th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $101.00 to $98.00 and set a “market perform” rating for the company in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $97.53.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $73.43 on Tuesday. Wells Fargo & Company has a twelve month low of $71.89 and a twelve month high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.12. The firm has a fifty day simple moving average of $79.99 and a two-hundred day simple moving average of $85.95. The company has a market capitalization of $224.70 billion, a PE ratio of 11.33, a P/E/G ratio of 0.89 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.02. The company had revenue of $11.62 billion during the quarter, compared to analysts’ expectations of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.Wells Fargo & Company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.39 EPS. Research analysts expect that Wells Fargo & Company will post 6.82 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 27.78%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.