Forum Financial Management LP Has $1.20 Million Stock Position in Wells Fargo & Company $WFC

Key Points

• Forum Financial Management LP cut its Wells Fargo stake by 74.7% in the first quarter, leaving it with 15,073 shares valued at about $1.2 million.
• Large investors remain heavily involved in WFC, with institutions and hedge funds owning 75.9% of the stock; several firms recently added or established major positions.
• Analysts are generally positive on Wells Fargo, with a consensus rating of “Moderate Buy” and an average price target of $98.34, while the stock last traded at $83.56.

Forum Financial Management LP lessened its stake in shares of Wells Fargo & Company (NYSE:WFC) by 74.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,073 shares of the financial services provider's stock after selling 44,410 shares during the period. Forum Financial Management LP's holdings in Wells Fargo & Company were worth $1,200,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WFC. Norges Bank acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $4,512,563,000. Capital Research Global Investors raised its stake in shares of Wells Fargo & Company by 18.6% during the 3rd quarter. Capital Research Global Investors now owns 35,660,903 shares of the financial services provider's stock worth $2,989,104,000 after purchasing an additional 5,584,930 shares in the last quarter. Mawer Investment Management Ltd. boosted its holdings in shares of Wells Fargo & Company by 177.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 4,876,127 shares of the financial services provider's stock valued at $454,455,000 after buying an additional 3,120,399 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $215,638,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Wells Fargo & Company by 13.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider's stock valued at $1,922,257,000 after buying an additional 2,369,260 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WFC shares. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. cut their price target on shares of Wells Fargo & Company from $91.00 to $86.50 and set a "neutral" rating for the company in a research note on Thursday, April 30th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an "equal weight" rating in a research report on Monday. HSBC upgraded shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $94.00 price objective on the stock in a research note on Wednesday, April 1st. Finally, KGI Securities cut shares of Wells Fargo & Company to a "hold" rating in a report on Thursday, April 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.34.

Wells Fargo & Company Trading Down 0.4%

Shares of Wells Fargo & Company stock opened at $83.56 on Tuesday. The business has a fifty day simple moving average of $79.77 and a two-hundred day simple moving average of $84.37. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The company has a market capitalization of $255.71 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.96 and a beta of 0.93. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, beating the consensus estimate of $1.58 by $0.02. The firm had revenue of $11.62 billion for the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a net margin of 17.26% and a return on equity of 13.27%. The company's quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 earnings per share. Research analysts forecast that Wells Fargo & Company will post 6.99 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company's payout ratio is presently 27.78%.

Wells Fargo & Company Company Profile

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.

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