BTR Capital Management Inc. cut its holdings in Wells Fargo (NYSE:WFC) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,894 shares of the financial services provider’s stock after selling 2,437 shares during the period. BTR Capital Management Inc.’s holdings in Wells Fargo were worth $1,510,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Vigilant Capital Management LLC boosted its holdings in Wells Fargo by 43.3% in the fourth quarter. Vigilant Capital Management LLC now owns 4,026 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 1,216 shares in the last quarter. Oxbow Advisors LLC boosted its holdings in Wells Fargo by 2.2% in the fourth quarter. Oxbow Advisors LLC now owns 43,565 shares of the financial services provider’s stock worth $2,643,000 after purchasing an additional 956 shares in the last quarter. AMI Investment Management Inc. boosted its holdings in Wells Fargo by 0.8% in the fourth quarter. AMI Investment Management Inc. now owns 149,674 shares of the financial services provider’s stock worth $9,081,000 after purchasing an additional 1,188 shares in the last quarter. Burt Wealth Advisors boosted its holdings in Wells Fargo by 18.7% in the fourth quarter. Burt Wealth Advisors now owns 6,192 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 977 shares in the last quarter. Finally, High Pointe Capital Management LLC boosted its holdings in Wells Fargo by 17.1% in the fourth quarter. High Pointe Capital Management LLC now owns 38,640 shares of the financial services provider’s stock worth $2,344,000 after purchasing an additional 5,650 shares in the last quarter. Hedge funds and other institutional investors own 77.32% of the company’s stock.
In related news, Director Ronald Sargent acquired 9,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was acquired at an average price of $55.98 per share, with a total value of $503,820.00. Following the completion of the transaction, the director now owns 81 shares of the company’s stock, valued at $4,534.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by corporate insiders.
WFC stock opened at $54.90 on Wednesday. The company has a market cap of $272,666.44, a PE ratio of 13.49, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 0.90, a quick ratio of 0.88 and a debt-to-equity ratio of 1.23. Wells Fargo has a 52-week low of $49.27 and a 52-week high of $66.31.
Wells Fargo (NYSE:WFC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.97 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.07). The company had revenue of $22.05 billion for the quarter, compared to analyst estimates of $22.64 billion. Wells Fargo had a net margin of 22.57% and a return on equity of 12.24%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 EPS. sell-side analysts forecast that Wells Fargo will post 4.72 EPS for the current fiscal year.
Wells Fargo declared that its board has initiated a stock buyback program on Tuesday, January 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Thursday, February 1st. Wells Fargo’s dividend payout ratio is currently 38.33%.
WFC has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Wells Fargo from $72.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods cut shares of Wells Fargo from an “outperform” rating to a “market perform” rating and set a $63.00 price target for the company. in a report on Sunday, February 4th. Nomura decreased their price target on shares of Wells Fargo from $79.00 to $76.00 and set a “buy” rating for the company in a report on Monday, February 5th. BMO Capital Markets restated a “hold” rating and set a $60.00 price target on shares of Wells Fargo in a report on Monday, February 5th. Finally, Citigroup cut shares of Wells Fargo from a “buy” rating to a “neutral” rating and set a $65.00 price target for the company. in a report on Monday, February 5th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $62.90.
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Wells Fargo Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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