ArrowMark Colorado Holdings LLC Sells 23,000 Shares of Wells Fargo & Company (NYSE:WFC)

ArrowMark Colorado Holdings LLC decreased its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 360,310 shares of the financial services provider's stock after selling 23,000 shares during the period. ArrowMark Colorado Holdings LLC's holdings in Wells Fargo & Company were worth $25,308,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in Wells Fargo & Company in the fourth quarter worth approximately $26,000. Investment Counsel Co. of Nevada bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $28,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. raised its position in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock worth $30,000 after purchasing an additional 237 shares during the period. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of WFC remained flat at $73.80 on Monday. The stock had a trading volume of 16,069,114 shares, compared to its average volume of 17,539,928. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The firm has a market capitalization of $240.16 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The company's 50-day moving average price is $69.31 and its 200-day moving average price is $71.99.

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 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. The business had revenue of $20.15 billion during the quarter, compared to analyst estimates of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 earnings per share. On average, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company announced that its Board of Directors has approved a share repurchase program on Tuesday, April 29th that authorizes the company to repurchase $40.00 billion in outstanding 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 leadership believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The firm 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 28.73%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Royal Bank of Canada raised 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 note on Thursday, March 13th. Phillip Securities raised shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Finally, Citigroup dropped their price target 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. Six equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.