Dynasty Wealth Management LLC Decreases Position in Wells Fargo & Company (NYSE:WFC)

Dynasty Wealth Management LLC reduced its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,686 shares of the financial services provider’s stock after selling 2,232 shares during the period. Dynasty Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wells Fargo & Company Stock Up 0.2 %

Shares of NYSE:WFC opened at $76.61 on Friday. The business has a 50-day moving average price of $75.71 and a 200 day moving average price of $67.57. The company has a market capitalization of $255.06 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on WFC shares. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Citigroup boosted 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.