North Star Asset Management Inc. lowered its holdings in Wells Fargo & Co (NYSE:WFC) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,608 shares of the financial services provider’s stock after selling 2,575 shares during the period. North Star Asset Management Inc.’s holdings in Wells Fargo & Co were worth $1,162,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of WFC. Horan Capital Advisors LLC. acquired a new stake in shares of Wells Fargo & Co during the 3rd quarter valued at approximately $25,000. Evolution Wealth Advisors LLC lifted its stake in Wells Fargo & Co by 119.5% during the fourth quarter. Evolution Wealth Advisors LLC now owns 562 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 306 shares during the last quarter. Howard Wealth Management LLC acquired a new position in Wells Fargo & Co in the fourth quarter worth $35,000. Carmichael Hill & Associates Inc. acquired a new position in Wells Fargo & Co in the fourth quarter worth $38,000. Finally, NuWave Investment Management LLC increased its stake in Wells Fargo & Co by 122.3% during the third quarter. NuWave Investment Management LLC now owns 798 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 439 shares during the last quarter. 75.69% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo & Co stock traded up $0.11 during midday trading on Friday, reaching $48.23. 712,308 shares of the stock traded hands, compared to its average volume of 20,914,293. Wells Fargo & Co has a fifty-two week low of $43.34 and a fifty-two week high of $54.75. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. The firm has a market cap of $202.04 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 1.09 and a beta of 1.12. The firm has a fifty day moving average price of $50.12 and a two-hundred day moving average price of $50.11.
Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings results on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.17). The firm had revenue of $19.86 billion during the quarter, compared to analyst estimates of $20.11 billion. Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. Wells Fargo & Co’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. Analysts anticipate that Wells Fargo & Co will post 4.08 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 7th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Thursday, February 6th. Wells Fargo & Co’s dividend payout ratio (DPR) is 46.58%.
A number of research analysts have recently issued reports on WFC shares. BMO Capital Markets restated a “market perform” rating and issued a $53.00 price target on shares of Wells Fargo & Co in a research report on Wednesday, January 15th. UBS Group decreased their price target on shares of Wells Fargo & Co from $52.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Raymond James downgraded shares of Wells Fargo & Co from a “market perform” rating to an “underperform” rating in a research report on Monday, December 2nd. Barclays lowered shares of Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 price objective on the stock. in a research note on Monday, January 6th. Finally, TheStreet lowered shares of Wells Fargo & Co from a “b” rating to a “c+” rating in a research note on Wednesday. Seven analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus price target of $49.88.
Wells Fargo & Co Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.
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