Wells Fargo & Co (WFC) is Sprucegrove Investment Management Ltd.’s 9th Largest Position

Sprucegrove Investment Management Ltd. trimmed its stake in Wells Fargo & Co (NYSE:WFC) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 550,960 shares of the financial services provider’s stock after selling 11,600 shares during the quarter. Wells Fargo & Co accounts for 1.8% of Sprucegrove Investment Management Ltd.’s portfolio, making the stock its 9th biggest position. Sprucegrove Investment Management Ltd.’s holdings in Wells Fargo & Co were worth $25,388,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Capital International Investors lifted its position in Wells Fargo & Co by 270.1% during the 3rd quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock valued at $4,718,587,000 after acquiring an additional 65,517,025 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Wells Fargo & Co by 4,415.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 21,790,126 shares of the financial services provider’s stock valued at $473,000 after acquiring an additional 21,307,608 shares during the period. Primecap Management Co. CA lifted its position in Wells Fargo & Co by 47.1% during the 3rd quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock valued at $2,024,201,000 after acquiring an additional 12,337,098 shares during the period. OppenheimerFunds Inc. lifted its position in Wells Fargo & Co by 1,283.4% during the 3rd quarter. OppenheimerFunds Inc. now owns 3,087,235 shares of the financial services provider’s stock valued at $162,264,000 after acquiring an additional 2,864,065 shares during the period. Finally, Magnolia Group LLC lifted its position in Wells Fargo & Co by 82.4% during the 4th quarter. Magnolia Group LLC now owns 4,114,450 shares of the financial services provider’s stock valued at $189,594,000 after acquiring an additional 1,858,550 shares during the period. 71.31% of the stock is owned by hedge funds and other institutional investors.

Shares of WFC stock opened at $51.53 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $252.33 billion, a PE ratio of 11.72, a P/E/G ratio of 0.94 and a beta of 1.12. Wells Fargo & Co has a 52 week low of $43.02 and a 52 week high of $59.53.

Wells Fargo & Co (NYSE:WFC) last announced its earnings results on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.04. The company had revenue of $20.98 billion during the quarter, compared to analyst estimates of $21.80 billion. Wells Fargo & Co had a net margin of 22.95% and a return on equity of 13.34%. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 earnings per share. Equities research analysts anticipate that Wells Fargo & Co will post 4.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 1st were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.49%. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Thursday, January 31st. Wells Fargo & Co’s payout ratio is 41.10%.

WFC has been the subject of a number of recent research reports. Robert W. Baird reissued a “buy” rating and set a $59.00 price target on shares of Wells Fargo & Co in a research report on Wednesday, January 2nd. Credit Suisse Group reissued a “hold” rating and set a $60.00 price target on shares of Wells Fargo & Co in a research report on Friday, January 11th. Zacks Investment Research raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Sunday, January 6th. ValuEngine raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. Finally, Wolfe Research cut shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $61.33.

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Wells Fargo & Co 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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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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