Atalanta Sosnoff Capital LLC cut its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 565,693 shares of the financial services provider's stock after selling 14,299 shares during the quarter. Atalanta Sosnoff Capital LLC's holdings in Wells Fargo & Company were worth $27,843,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. First Financial Corp IN grew its position in Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider's stock worth $226,000 after buying an additional 214 shares in the last quarter. CX Institutional grew its stake in shares of Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider's stock valued at $998,000 after purchasing an additional 217 shares during the period. Cape Investment Advisory Inc. grew its stake in shares of Wells Fargo & Company by 3.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 6,746 shares of the financial services provider's stock valued at $332,000 after purchasing an additional 219 shares during the period. Cassaday & Co Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 4.1% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,645 shares of the financial services provider's stock valued at $278,000 after purchasing an additional 224 shares during the period. Finally, ERTS Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 3.5% in the 4th quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider's stock valued at $331,000 after purchasing an additional 228 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the company a "neutral" rating in a research note on Wednesday, May 1st. Argus upped their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, April 15th. HSBC upped their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the company a "hold" rating in a research note on Thursday, March 28th. Oppenheimer reiterated a "market perform" rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, Compass Point reissued a "neutral" rating and issued a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of "Hold" and an average price target of $58.99.
Get Our Latest Stock Report on Wells Fargo & Company
Wells Fargo & Company Trading Up 1.2 %
WFC stock traded up $0.71 during trading on Friday, hitting $59.92. The company had a trading volume of 24,669,265 shares, compared to its average volume of 18,323,736. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $59.24 and a 200-day moving average price of $53.04. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The stock has a market cap of $208.90 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.55 and a beta of 1.18.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analysts' expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current year.
Wells Fargo & Company Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company's payout ratio is 29.23%.
About Wells Fargo & Company
(
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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