WFA Asset Management Corp Has $87,000 Holdings in Wells Fargo & Company (NYSE:WFC)

WFA Asset Management Corp lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 79.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,213 shares of the financial services provider's stock after selling 4,819 shares during the quarter. WFA Asset Management Corp's holdings in Wells Fargo & Company were worth $87,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WFC. Norges Bank acquired a new position in Wells Fargo & Company in the 4th quarter valued at approximately $3,365,658,000. Northern Trust Corp increased its stake in shares of 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 worth $2,411,992,000 after acquiring an additional 3,307,855 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Wells Fargo & Company by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider's stock worth $1,430,742,000 after acquiring an additional 238,131 shares during the last quarter. Capital Research Global Investors raised its holdings 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 acquiring an additional 14,210,193 shares in the last quarter. Finally, Capital World Investors boosted its position in Wells Fargo & Company by 0.4% during the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider's stock valued at $977,338,000 after purchasing an additional 62,099 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on WFC shares. JPMorgan Chase & Co. lowered their price target on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Raymond James cut their price target on shares of 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. 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. Morgan Stanley boosted their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Finally, Bank of America raised their price objective on Wells Fargo & Company from $83.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.48.

Wells Fargo & Company Stock Performance

WFC opened at $76.38 on Monday. The stock's 50 day simple moving average is $70.42 and its 200-day simple moving average is $72.95. 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 stock has a market cap of $248.55 billion, a PE ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50.

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, beating analysts' consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter in the prior year, the company posted $1.20 EPS. The business's revenue was down 3.4% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 29th that permits the company to buyback $40.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 17.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Stockholders of record on Friday, May 9th were paid a $0.40 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. Wells Fargo & Company's dividend payout ratio is presently 28.73%.

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.

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