Robinson Value Management Ltd. Has $4.59 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Robinson Value Management Ltd. trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 35.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,324 shares of the financial services provider’s stock after selling 36,048 shares during the quarter. Wells Fargo & Company makes up 3.0% of Robinson Value Management Ltd.’s holdings, making the stock its 4th biggest holding. Robinson Value Management Ltd.’s holdings in Wells Fargo & Company were worth $4,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. National Pension Service raised its position 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 worth $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position 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 worth $375,183,000 after acquiring an additional 162,066 shares during the last quarter. Nordea Investment Management AB raised its position 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 worth $441,983,000 after acquiring an additional 575,892 shares during the last quarter. Two Sigma Advisers LP raised its position 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 worth $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP bought a new position in shares of Wells Fargo & Company during the third quarter worth about $160,529,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 0.8 %

Shares of NYSE:WFC opened at $80.76 on Friday. The stock has a market cap of $268.89 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.22 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 12-month low of $47.47 and a 12-month high of $81.50. The business’s 50 day moving average is $73.89 and its 200 day moving average is $65.43.

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 for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed 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 is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 1.98%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Analyst Ratings Changes

A number of brokerages have weighed in on WFC. Evercore ISI lifted their target price on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. UBS Group lifted their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Finally, Compass Point lifted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.39.

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.