Bangor Savings Bank lessened its holdings in Wells Fargo & Company (NYSE:WFC – Free Report) by 9.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,350 shares of the financial services provider’s stock after selling 369 shares during the period. Bangor Savings Bank’s holdings in Wells Fargo & Company were worth $194,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $2,623,044,000. Capital World Investors grew its stake in shares of Wells Fargo & Company by 1.0% during the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock valued at $1,295,459,000 after buying an additional 263,176 shares during the last quarter. Sanders Capital LLC grew its stake in shares of Wells Fargo & Company by 3.2% during the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock valued at $1,241,231,000 after buying an additional 781,772 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Wells Fargo & Company by 2.3% during the fourth 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 buying an additional 526,178 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Wells Fargo & Company by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock valued at $932,352,000 after buying an additional 596,521 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Wells Fargo & Company Trading Down 1.5 %
NYSE:WFC opened at $58.10 on Monday. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a 50 day simple moving average of $59.54 and a two-hundred day simple moving average of $54.74. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a market cap 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 – Get Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.23 EPS. Research analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.41%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is currently 29.23%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on the company. 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. HSBC raised their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Argus raised their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, Citigroup reissued a “neutral” rating and issued a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.99.
View Our Latest Analysis on Wells Fargo & Company
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.
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Source: defenseworld.net
