Teewinot Capital Advisers L.L.C. Has $38.90 Million Position in Wells Fargo & Company (NYSE:WFC)

Teewinot Capital Advisers L.L.C. trimmed its position in Wells Fargo & Company (NYSE:WFC) by 34.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 553,760 shares of the financial services provider's stock after selling 288,103 shares during the quarter. Wells Fargo & Company accounts for 4.0% of Teewinot Capital Advisers L.L.C.'s holdings, making the stock its 15th biggest holding. Teewinot Capital Advisers L.L.C.'s holdings in Wells Fargo & Company were worth $38,896,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in Wells Fargo & Company by 19.1% in the 4th quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock valued at $13,369,000 after buying an additional 30,510 shares in the last quarter. Valmark Advisers Inc. grew its holdings in shares of Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after purchasing an additional 431 shares in the last quarter. NatWest Group plc grew its holdings in shares of Wells Fargo & Company by 57.7% during the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock worth $12,115,000 after purchasing an additional 63,102 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth $1,656,000. Finally, Modera Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 14.1% during the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock worth $1,444,000 after purchasing an additional 2,548 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $76.21 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $248.01 billion, a PE ratio of 14.17, a P/E/G ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock has a 50-day moving average price of $69.60 and a two-hundred day moving average price of $72.54.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same period last year, the company earned $1.20 earnings per share. The business's quarterly revenue was down 3.4% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company declared that its Board of Directors has initiated a share buyback program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, May 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WFC. Bank of America reduced their target price on Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. 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. JPMorgan Chase & Co. reduced their target price on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada upgraded Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research report on Thursday, March 13th. Finally, Citigroup dropped their price objective on 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. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of "Moderate Buy" and a consensus target price of $75.73.

Wells Fargo & 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.

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