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

Forum Financial Management LP lowered its position in shares of Wells Fargo & Company (NYSE:WFC) by 74.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in Wells Fargo & Company by 62.3% in the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after buying an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC lifted its holdings in shares of Wells Fargo & Company by 111.0% during the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 7,368 shares in the last quarter. Vivaldi Capital Management LP boosted its position in shares of Wells Fargo & Company by 5.4% in the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 165 shares during the period. Finally, Diversify Advisory Services LLC boosted its position in shares of Wells Fargo & Company by 51.2% in the second quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after acquiring an additional 8,714 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WFC has been the topic of several research reports. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Barclays dropped their price objective on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, May 7th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. Finally, Morgan Stanley raised their target price on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.34.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $83.56 on Tuesday. The company has a market cap of $255.71 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.96 and a beta of 0.93. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average price of $79.77 and a 200-day moving average price of $84.37.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The company had revenue of $11.62 billion for 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 revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $1.39 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 6.99 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 8th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.