Wells Fargo & Company (NYSE:WFC) Shares Sold by Becker Capital Management Inc.

Becker Capital Management Inc. trimmed its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 30.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,527 shares of the financial services provider's stock after selling 5,430 shares during the quarter. Becker Capital Management Inc.'s holdings in Wells Fargo & Company were worth $880,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $26,000. Investment Counsel Co. of Nevada bought a new position in Wells Fargo & Company in the fourth quarter worth about $28,000. Rakuten Securities Inc. lifted its position in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after buying an additional 237 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, McClarren Financial Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC stock traded up $1.95 during mid-day trading on Friday, hitting $73.76. 18,345,997 shares of the stock were exchanged, compared to its average volume of 17,545,830. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market cap of $240.84 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The firm has a fifty day moving average of $69.37 and a 200 day moving average of $71.87.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Shareholders of record on Friday, May 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. Wells Fargo & Company's payout ratio is currently 28.73%.

Wells Fargo & Company declared that its board has approved a stock repurchase program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of analyst reports. Raymond James decreased their target price on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research report on Monday, April 14th. Bank of America lowered their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Barclays decreased their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. Finally, Citigroup cut their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus price target of $75.34.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.