Snowden Capital Advisors LLC Sells 9,757 Shares of Wells Fargo & Company (NYSE:WFC)

Snowden Capital Advisors LLC trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 24.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,380 shares of the financial services provider's stock after selling 9,757 shares during the period. Snowden Capital Advisors LLC's holdings in Wells Fargo & Company were worth $2,134,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC boosted its position in shares of 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 purchasing an additional 30,510 shares during the period. Valmark Advisers Inc. lifted 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 valued at $583,000 after buying an additional 431 shares during the last quarter. NatWest Group plc lifted 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 valued at $12,115,000 after buying an additional 63,102 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $1,656,000. Finally, Modera Wealth Management LLC lifted its holdings in Wells Fargo & Company by 14.1% in 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 during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

NYSE WFC traded down $0.64 on Tuesday, reaching $75.42. The stock had a trading volume of 10,653,194 shares, compared to its average volume of 17,481,258. The company has a market cap of $245.43 billion, a P/E ratio of 14.02, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a fifty day moving average of $69.88 and a two-hundred day moving average of $72.69.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued 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 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 firm's revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.12%. Wells Fargo & Company's payout ratio is currently 28.73%.

Analysts Set New Price Targets

WFC has been the topic of several recent analyst reports. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Phillip Securities upgraded Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Bank of America decreased 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. Morgan Stanley increased their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, April 7th. Finally, Barclays decreased their price target on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $75.73.

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.