Wells Fargo & Company $WFC Shares Sold by LSV Asset Management

LSV Asset Management decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.5% in the third quarter, Holdings Channel reports. The firm owned 6,520,348 shares of the financial services provider’s stock after selling 310,352 shares during the quarter. Wells Fargo & Company comprises about 1.2% of LSV Asset Management’s portfolio, making the stock its 8th biggest holding. LSV Asset Management’s holdings in Wells Fargo & Company were worth $546,536,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Hidden Cove Wealth Management LLC boosted its stake in Wells Fargo & Company by 2.0% in the 3rd quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock valued at $499,000 after buying an additional 119 shares in the last quarter. Zullo Investment Group Inc. raised its stake in Wells Fargo & Company by 2.0% during the third quarter. Zullo Investment Group Inc. now owns 6,340 shares of the financial services provider’s stock worth $532,000 after acquiring an additional 122 shares in the last quarter. Embree Financial Group lifted its holdings in shares of Wells Fargo & Company by 3.9% during the third quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 126 shares during the period. Trust Co. of Vermont boosted its stake in shares of Wells Fargo & Company by 1.1% in the 3rd quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock valued at $1,014,000 after purchasing an additional 126 shares in the last quarter. Finally, Traphagen Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company by 2.0% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 6,346 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 127 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on WFC. Robert W. Baird lowered shares of Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a report on Thursday, January 15th. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. HSBC reiterated a “hold” rating and issued a $74.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Finally, Bank of America increased their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.29.

Wells Fargo & Company Trading Down 3.1%

WFC stock opened at $89.08 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76. The company has a market cap of $279.63 billion, a P/E ratio of 14.21, a PEG ratio of 1.01 and a beta of 1.09. The business has a fifty day moving average of $91.94 and a 200-day moving average of $85.85.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. The business had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 earnings per share. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, February 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.0%. Wells Fargo & Company’s payout ratio is currently 28.71%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.