FIL Ltd decreased its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,582,163 shares of the financial services provider's stock after selling 207,197 shares during the quarter. FIL Ltd owned 0.15% of Wells Fargo & Company worth $274,754,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of WFC. Norges Bank purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $2,623,044,000. Northern Trust Corp increased its position in shares of Wells Fargo & Company by 0.3% during the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider's stock valued at $1,560,755,000 after purchasing an additional 129,300 shares during the last quarter. Capital World Investors increased its position in shares of Wells Fargo & Company by 1.0% during the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider's stock valued at $1,295,459,000 after purchasing an additional 263,176 shares during the last quarter. Sanders Capital LLC increased its position in shares of Wells Fargo & Company by 3.2% during the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider's stock valued at $1,241,231,000 after purchasing an additional 781,772 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Wells Fargo & Company by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider's stock valued at $1,143,770,000 after purchasing an additional 526,178 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.
Wells Fargo & Company Price Performance
Shares of WFC stock traded up $0.13 on Friday, reaching $57.40. The company's stock had a trading volume of 15,375,353 shares, compared to its average volume of 14,025,280. The stock's fifty day simple moving average is $59.38 and its 200-day simple moving average is $54.18. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $200.11 billion, a price-to-earnings ratio of 11.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the firm posted $1.23 earnings per share. Wells Fargo & Company's revenue for the quarter was up .6% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.
Wells Fargo & Company Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company's payout ratio is 29.23%.
Wall Street Analyst Weigh In
A number of research firms have commented on WFC. HSBC raised their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a "hold" rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Argus raised their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a "buy" rating in a research note on Monday, April 15th. Evercore ISI raised their target price on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an "outperform" rating in a research note on Thursday, March 28th. Finally, Oppenheimer restated a "market perform" rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.99.
Get Our Latest Report on WFC
About Wells Fargo & Company
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Free Report)
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.
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