SNS Financial Group LLC Decreases Position in Wells Fargo & Company (NYSE:WFC)

SNS Financial Group LLC decreased its stake in Wells Fargo & Company (NYSE:WFC) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,966 shares of the financial services provider’s stock after selling 729 shares during the period. SNS Financial Group LLC’s holdings in Wells Fargo & Company were worth $489,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in Wells Fargo & Company in the third quarter valued at about $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.5 %

WFC opened at $80.38 on Thursday. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $267.63 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.20 and a beta of 1.18. The stock’s 50 day moving average price is $74.90 and its 200 day moving average price is $66.64.

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

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analysts Set New Price Targets

A number of research analysts have commented on WFC shares. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup increased their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.