Wells Fargo & Company (NYSE:WFC) Shares Sold by Bingham Osborn & Scarborough LLC

Bingham Osborn & Scarborough LLC lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 24.5% during the first quarter, HoldingsChannel reports. The firm owned 7,252 shares of the financial services provider’s stock after selling 2,353 shares during the period. Bingham Osborn & Scarborough LLC’s holdings in Wells Fargo & Company were worth $283,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of WFC. Baron Silver Stevens Financial Advisors LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Hoover Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. RMR Wealth Builders bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $30,000. Wealthcare Capital Management LLC bought a new stake in Wells Fargo & Company in the first quarter valued at about $30,000. Finally, Key Financial Inc bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $31,000. Institutional investors own 67.25% of the company’s stock.

NYSE WFC opened at $46.96 on Friday. The business’s fifty day moving average is $42.77 and its two-hundred day moving average is $34.12. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.87. Wells Fargo & Company has a 1 year low of $20.76 and a 1 year high of $47.35. The stock has a market capitalization of $194.11 billion, a P/E ratio of 126.92, a P/E/G ratio of 4.84 and a beta of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, April 13th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.36. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The company had revenue of $18.06 billion for the quarter, compared to the consensus estimate of $17.42 billion. During the same period in the previous year, the business earned $0.01 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, research analysts forecast that Wells Fargo & Company will post 0.48 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Friday, May 7th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, May 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 9.13%.

Several analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Wells Fargo & Company from $47.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 21st. Zacks Investment Research upgraded Wells Fargo & Company from a “hold” rating to a “strong-buy” rating and set a $49.00 target price for the company in a research note on Friday, April 16th. Barclays lifted their target price on Wells Fargo & Company from $42.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, April 15th. Argus lifted their target price on Wells Fargo & Company from $37.00 to $47.00 in a research note on Thursday, April 15th. Finally, Seaport Global Securities upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, January 19th. Nine equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Wells Fargo & Company currently has an average rating of “Buy” and an average target price of $40.83.

About Wells Fargo & Company

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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