Manitou Investment Management Ltd. lifted its stake in Wells Fargo & Company (NYSE:WFC – Get Rating) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 499,331 shares of the financial services provider’s stock after purchasing an additional 2,156 shares during the period. Wells Fargo & Company accounts for approximately 3.7% of Manitou Investment Management Ltd.’s holdings, making the stock its 12th largest holding. Manitou Investment Management Ltd.’s holdings in Wells Fargo & Company were worth $24,198,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of WFC. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $1,566,470,000. Capital World Investors raised its stake in shares of Wells Fargo & Company by 37.4% in the 4th quarter. Capital World Investors now owns 30,966,799 shares of the financial services provider’s stock valued at $1,485,787,000 after purchasing an additional 8,421,820 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Company by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,758,512 shares of the financial services provider’s stock valued at $852,047,000 after purchasing an additional 321,934 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Wells Fargo & Company by 8.6% during the fourth quarter. Parametric Portfolio Associates LLC now owns 9,845,418 shares of the financial services provider’s stock worth $472,383,000 after buying an additional 780,425 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in Wells Fargo & Company by 8.5% in the 4th quarter. Toronto Dominion Bank now owns 5,331,925 shares of the financial services provider’s stock valued at $131,344,000 after buying an additional 418,123 shares during the last quarter. Institutional investors and hedge funds own 74.01% of the company’s stock.
In other Wells Fargo & Company news, EVP Kleber Santos sold 22,700 shares of the stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total value of $1,008,788.00. Following the sale, the executive vice president now owns 21,478 shares in the company, valued at $954,482.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.05% of the stock is currently owned by insiders.
Wells Fargo & Company (NYSE:WFC – Get Rating) last released its earnings results on Thursday, April 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. Wells Fargo & Company had a net margin of 25.35% and a return on equity of 12.20%. The firm had revenue of $17.59 billion during the quarter, compared to analyst estimates of $17.82 billion. During the same period last year, the business earned $1.05 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 4.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.59%. The ex-dividend date was Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio is presently 20.79%.
Several brokerages recently commented on WFC. Raymond James reduced their price target on Wells Fargo & Company from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Monday, April 18th. BMO Capital Markets decreased their price objective on shares of Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating for the company in a research report on Monday, April 18th. Barclays increased their price target on Wells Fargo & Company from $62.00 to $64.00 in a research note on Monday, April 18th. Morgan Stanley reduced their target price on shares of Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, March 28th. Finally, The Goldman Sachs Group increased their price target on shares of Wells Fargo & Company from $54.00 to $56.00 in a report on Thursday, April 14th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.62.
About Wells Fargo & Company (Get Rating)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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