Sivia Capital Partners LLC Sells 2,330 Shares of Wells Fargo & Company (NYSE:WFC)

Sivia Capital Partners LLC lessened its stake in Wells Fargo & Company (NYSE:WFC) by 22.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,974 shares of the financial services provider’s stock after selling 2,330 shares during the quarter. Sivia Capital Partners LLC’s holdings in Wells Fargo & Company were worth $474,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Core Wealth Advisors Inc. bought a new position in Wells Fargo & Company during the 4th quarter valued at $25,000. Valued Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth about $32,000. Atlantic Edge Private Wealth Management LLC bought a new stake in Wells Fargo & Company in the 4th quarter worth about $34,000. Finally, Beaird Harris Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $54.01 on Friday. The firm has a market capitalization of $188.30 billion, a P/E ratio of 11.09, a PEG ratio of 1.43 and a beta of 1.16. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The business has a fifty day moving average price of $57.31 and a 200-day moving average price of $57.88.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter last year, the company earned $1.25 EPS. The firm’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.96%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is currently 32.85%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WFC. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Keefe, Bruyette & Woods cut their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. BMO Capital Markets raised their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $60.29.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.