Fisher Asset Management LLC Reduces Stake in Wells Fargo & Company (NYSE:WFC)

Fisher Asset Management LLC reduced its position in Wells Fargo & Company (NYSE:WFC) by 13.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,900 shares of the financial services provider’s stock after selling 3,264 shares during the period. Fisher Asset Management LLC’s holdings in Wells Fargo & Company were worth $1,029,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WFC. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Wells Fargo & Company by 7.3% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 50,662 shares of the financial services provider’s stock valued at $2,070,000 after buying an additional 3,440 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in Wells Fargo & Company by 27.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 12,513 shares of the financial services provider’s stock valued at $511,000 after buying an additional 2,721 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Wells Fargo & Company by 6.4% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 13,953 shares of the financial services provider’s stock valued at $570,000 after buying an additional 842 shares during the last quarter. Pegasus Partners Ltd. grew its holdings in Wells Fargo & Company by 34.2% during the 3rd quarter. Pegasus Partners Ltd. now owns 7,091 shares of the financial services provider’s stock valued at $290,000 after buying an additional 1,807 shares during the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Wells Fargo & Company by 95.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 9,800 shares of the financial services provider’s stock valued at $400,000 after buying an additional 4,796 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Argus raised their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. JPMorgan Chase & Co. raised their price objective on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, Jefferies Financial Group raised their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.99.

Wells Fargo & Company Trading Down 1.5 %

NYSE:WFC opened at $58.10 on Friday. The business’s 50-day moving average is $59.54 and its two-hundred day moving average is $54.67. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The firm has a market capitalization of $202.55 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.45 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. During the same period last year, the company posted $1.23 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is 29.23%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.