Wells Fargo & Company (NYSE:WFC) Shares Sold by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC decreased its holdings in Wells Fargo & Company (NYSE:WFC) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,805 shares of the financial services provider’s stock after selling 3,020 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Wells Fargo & Company were worth $3,639,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Jacobsen Capital Management lifted its position in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 148 shares in the last quarter. Quad Cities Investment Group LLC lifted its position in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after purchasing an additional 158 shares in the last quarter. Investors Research Corp lifted its position in shares of Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 160 shares in the last quarter. Ellenbecker Investment Group lifted its position in shares of Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares in the last quarter. Finally, Income Research & Management acquired a new position in shares of Wells Fargo & Company during the third quarter worth approximately $211,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WFC. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Up 1.7 %

Wells Fargo & Company stock opened at $81.45 on Friday. The stock has a market capitalization of $271.18 billion, a PE ratio of 15.14, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a 50 day moving average of $73.72 and a 200-day moving average of $65.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & 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.