Wells Fargo & Co (WFC) Shares Sold by Washington Capital Management Inc.
Washington Capital Management Inc. decreased its holdings in Wells Fargo & Co (NYSE:WFC) by 10.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,100 shares of the financial services provider’s stock after selling 1,600 shares during the quarter. Washington Capital Management Inc.’s holdings in Wells Fargo & Co were worth $855,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. Shayne & CO. LLC raised its stake in Wells Fargo & Co by 88.9% in the fourth quarter. Shayne & CO. LLC now owns 30,667 shares of the financial services provider’s stock valued at $1,860,000 after buying an additional 14,436 shares during the period. APG Asset Management N.V. increased its stake in shares of Wells Fargo & Co by 5.4% during the fourth quarter. APG Asset Management N.V. now owns 10,456,067 shares of the financial services provider’s stock worth $528,289,000 after purchasing an additional 531,794 shares during the period. Rathbone Brothers plc increased its stake in shares of Wells Fargo & Co by 2.8% during the fourth quarter. Rathbone Brothers plc now owns 60,092 shares of the financial services provider’s stock worth $3,646,000 after purchasing an additional 1,651 shares during the period. Hermes Investment Management Ltd. increased its stake in shares of Wells Fargo & Co by 0.7% during the fourth quarter. Hermes Investment Management Ltd. now owns 770,103 shares of the financial services provider’s stock worth $46,722,000 after purchasing an additional 5,005 shares during the period. Finally, Mizuho Securities USA LLC bought a new position in shares of Wells Fargo & Co during the fourth quarter worth approximately $2,481,000. Hedge funds and other institutional investors own 76.20% of the company’s stock.
A number of equities analysts have recently weighed in on WFC shares. Morgan Stanley increased their target price on Wells Fargo & Co from $72.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Sandler O’Neill upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.04 to $73.00 in a research note on Tuesday, January 9th. JPMorgan Chase & Co. lowered Wells Fargo & Co from a “neutral” rating to an “underweight” rating in a research note on Monday, February 5th. Sanford C. Bernstein upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $64.00 to $69.00 in a research note on Wednesday, January 3rd. Finally, Vetr upgraded Wells Fargo & Co from a “strong sell” rating to a “sell” rating and set a $54.78 target price on the stock in a research note on Monday, February 5th. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Wells Fargo & Co presently has an average rating of “Hold” and a consensus price target of $62.90.
Shares of Wells Fargo & Co (NYSE WFC) opened at $58.23 on Friday. The firm has a market capitalization of $294,370.00, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.48 and a beta of 1.08. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $66.31. The company has a quick ratio of 0.88, a current ratio of 0.90 and a debt-to-equity ratio of 1.23.
Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.97 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). The business had revenue of $22.05 billion during the quarter, compared to analyst estimates of $22.64 billion. Wells Fargo & Co had a net margin of 22.57% and a return on equity of 12.24%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. equities research analysts expect that Wells Fargo & Co will post 4.72 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Co’s dividend payout ratio is presently 43.21%.
Wells Fargo & Co announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 23rd that allows the company to repurchase 350,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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Wells Fargo & Co Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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