Wells Fargo & Company (NYSE:WFC) Stock Holdings Cut by Financial Counselors Inc.

Financial Counselors Inc. lessened its position in Wells Fargo & Company (NYSE:WFC) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,519 shares of the financial services provider’s stock after selling 491 shares during the quarter. Financial Counselors Inc.’s holdings in Wells Fargo & Company were worth $1,301,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC boosted its position in shares of Wells Fargo & Company by 13.8% during the 3rd quarter. Fisher Asset Management LLC now owns 24,833 shares of the financial services provider’s stock valued at $1,403,000 after purchasing an additional 3,016 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Wells Fargo & Company during the third quarter worth approximately $256,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the third quarter worth approximately $29,000. CreativeOne Wealth LLC grew its position in Wells Fargo & Company by 51.7% in the third quarter. CreativeOne Wealth LLC now owns 9,637 shares of the financial services provider’s stock worth $544,000 after buying an additional 3,285 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Wells Fargo & Company by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock valued at $58,055,000 after buying an additional 131,322 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 1.6 %

Shares of Wells Fargo & Company stock opened at $72.33 on Friday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-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 stock has a 50 day moving average price of $75.97 and a two-hundred day moving average price of $69.80. The stock has a market capitalization of $236.17 billion, a P/E ratio of 13.44, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.21%. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on WFC shares. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Thursday, March 13th. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Barclays raised their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup lowered their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research report on Monday. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.18.

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.