Treasurer of the State of North Carolina raised its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,675,600 shares of the financial services provider's stock after acquiring an additional 15,470 shares during the period. Treasurer of the State of North Carolina's holdings in Wells Fargo & Company were worth $82,473,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. 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. Boston Family Office LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $231,000. Legacy Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $383,000. Focus Financial Network Inc. ADV bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $6,227,000. Finally, TD Asset Management Inc grew its position in Wells Fargo & Company by 70.8% during the 4th quarter. TD Asset Management Inc now owns 2,101,691 shares of the financial services provider's stock worth $103,445,000 after acquiring an additional 870,939 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Argus raised their price target on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a "buy" rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a "neutral" rating in a research report on Wednesday, May 1st. Evercore ISI raised their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Finally, Citigroup restated a "neutral" rating and set a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $58.99.
Get Our Latest Report on WFC
Wells Fargo & Company Stock Up 0.8 %
Shares of WFC traded up $0.47 on Thursday, reaching $59.22. The stock had a trading volume of 13,580,770 shares, compared to its average volume of 18,251,094. The firm has a market capitalization of $206.44 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a 50-day simple moving average of $59.19 and a 200-day simple moving average of $52.91. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 12.30% and a net margin of 15.63%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. Sell-side analysts predict that Wells Fargo & Company will post 5.08 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. 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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