Wells Fargo & Company (NYSE:WFC) Stake Lowered by Wilsey Asset Management Inc.

Wilsey Asset Management Inc. lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 1.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 600,907 shares of the financial services provider’s stock after selling 5,912 shares during the quarter. Wells Fargo & Company comprises 7.1% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Wilsey Asset Management Inc.’s holdings in Wells Fargo & Company were worth $34,829,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WFC. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $2,623,044,000. Northern Trust Corp lifted its holdings in shares of Wells Fargo & Company by 0.3% in the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after buying an additional 129,300 shares during the period. Capital World Investors increased its stake in Wells Fargo & Company by 1.0% in the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after purchasing an additional 263,176 shares in the last quarter. Sanders Capital LLC increased its stake in Wells Fargo & Company by 3.2% in the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after purchasing an additional 781,772 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Wells Fargo & Company by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock valued at $1,143,770,000 after purchasing an additional 526,178 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of several research analyst reports. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Jefferies Financial Group raised their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Trading Up 1.4 %

Wells Fargo & Company stock traded up $0.81 during midday trading on Tuesday, reaching $59.05. The stock had a trading volume of 15,028,190 shares, compared to its average volume of 18,022,488. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The stock has a market capitalization of $205.87 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The stock’s 50-day simple moving average is $59.42 and its 200 day simple moving average is $54.45.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Wells Fargo & 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.