PharVision Advisers LLC Sells 3,358 Shares of Wells Fargo & Company $WFC

PharVision Advisers LLC lowered its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 51.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,137 shares of the financial services provider's stock after selling 3,358 shares during the period. PharVision Advisers LLC's holdings in Wells Fargo & Company were worth $225,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Brighton Jones LLC grew its position in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock valued at $4,652,000 after acquiring an additional 25,436 shares during the last quarter. CoreCap Advisors LLC grew its position in Wells Fargo & Company by 26.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,660 shares of the financial services provider's stock valued at $398,000 after acquiring an additional 1,200 shares during the last quarter. Fiduciary Trust Co grew its position in Wells Fargo & Company by 3.7% in the fourth quarter. Fiduciary Trust Co now owns 47,611 shares of the financial services provider's stock valued at $3,344,000 after acquiring an additional 1,704 shares during the last quarter. Ethic Inc. grew its position in Wells Fargo & Company by 58.5% in the fourth quarter. Ethic Inc. now owns 54,048 shares of the financial services provider's stock valued at $3,796,000 after acquiring an additional 19,955 shares during the last quarter. Finally, Gotham Asset Management LLC grew its position in Wells Fargo & Company by 2.8% in the fourth quarter. Gotham Asset Management LLC now owns 75,310 shares of the financial services provider's stock valued at $5,290,000 after acquiring an additional 2,064 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $78.98 on Friday. The stock's 50 day moving average is $80.54 and its 200 day moving average is $75.03. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. The firm has a market cap of $253.00 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.23 and a beta of 1.25. Wells Fargo & Company has a one year low of $50.22 and a one year high of $84.83.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.33 earnings per share. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company's payout ratio is presently 30.82%.

Analysts Set New Price Targets

A number of research analysts have issued reports on WFC shares. Evercore ISI reiterated an "outperform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 8th. TD Cowen began coverage on Wells Fargo & Company in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 target price on the stock. Citigroup reissued a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. The Goldman Sachs Group cut their price target on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Finally, Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $82.56.

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.

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