Weinberger Asset Management Inc Reduces Position in Wells Fargo & Company (NYSE:WFC)

Weinberger Asset Management Inc lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,411 shares of the financial services provider’s stock after selling 1,091 shares during the quarter. Weinberger Asset Management Inc’s holdings in Wells Fargo & Company were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. National Pension Service raised its holdings in shares of Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after acquiring an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Wells Fargo & Company by 2.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares in the last quarter. Finally, Canoe Financial LP bought a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $160,529,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on WFC. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Morgan Stanley increased their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods increased their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.5 %

Wells Fargo & Company stock opened at $77.10 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The stock has a market capitalization of $256.72 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The business’s fifty day moving average is $75.30 and its 200 day moving average is $67.28.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.86 earnings per share. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.08%. Wells Fargo & Company’s payout ratio is 29.74%.

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.