Becker Capital Management Inc. Has $880,000 Stock Holdings in Wells Fargo & Company (NYSE:WFC)

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

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Norges Bank bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $3,365,658,000. Capital Research Global Investors grew its stake in shares of Wells Fargo & Company by 932.0% during the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock worth $1,105,218,000 after purchasing an additional 14,210,193 shares during the period. Northern Trust Corp increased its holdings in Wells Fargo & Company by 10.7% in the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock valued at $2,411,992,000 after purchasing an additional 3,307,855 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $117,026,000. Finally, North Reef Capital Management LP boosted its holdings in Wells Fargo & Company by 144.3% during the fourth quarter. North Reef Capital Management LP now owns 2,125,000 shares of the financial services provider's stock worth $149,260,000 after buying an additional 1,255,000 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 0.2 %

Shares of NYSE:WFC traded up $0.11 during midday trading on Tuesday, reaching $73.96. The company had a trading volume of 8,029,968 shares, compared to its average volume of 17,503,688. The business's 50 day moving average price is $69.31 and its 200 day moving average price is $71.99. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year 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 stock has a market cap of $240.68 billion, a PE ratio of 13.76, a P/E/G ratio of 1.18 and a beta of 1.13.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter in the prior year, the business posted $1.20 EPS. The business's revenue was down 3.4% compared to the same quarter last year. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders 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 dividend yield of 2.16%. Wells Fargo & Company's payout ratio is 28.73%.

Wells Fargo & Company announced that its board has initiated a stock repurchase plan on Tuesday, April 29th that allows the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 17.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, April 7th. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Citigroup lowered their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Raymond James reduced their target price on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a report on Monday, April 14th. Finally, Bank of America decreased their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus 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.