Mitsubishi UFJ Trust & Banking Corp cut its holdings in Wells Fargo & Company (NYSE:WFC) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,336,470 shares of the financial services provider's stock after selling 72,693 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of Wells Fargo & Company worth $95,468,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Studio Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the first quarter worth $28,000. Baystate Wealth Management LLC raised its holdings in shares of Wells Fargo & Company by 53.0% during the third quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider's stock worth $33,000 after acquiring an additional 278 shares during the period. Impact Partnership Wealth LLC acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $34,000. Finally, Central Bank & Trust Co. increased its stake in Wells Fargo & Company by 444.8% in the 3rd quarter. Central Bank & Trust Co. now owns 899 shares of the financial services provider's stock valued at $37,000 after buying an additional 734 shares during the last quarter. 72.47% of the stock is owned by institutional investors.
Wells Fargo & Company Stock Down 1.0 %
WFC traded down $0.50 during trading on Friday, hitting $47.85. 3,112,602 shares of the company's stock were exchanged, compared to its average volume of 17,601,754. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The business's 50 day moving average is $48.47 and its two-hundred day moving average is $44.25. Wells Fargo & Company has a fifty-two week low of $35.25 and a fifty-two week high of $51.44. The stock has a market cap of $173.77 billion, a P/E ratio of 10.03, a PEG ratio of 1.01 and a beta of 1.18.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.30). The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The business's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 EPS. As a group, equities analysts expect that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 2nd will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.93%. Wells Fargo & Company's dividend payout ratio is presently 29.05%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on WFC shares. Raymond James lifted their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 16th. UBS Group lifted their price target on shares of Wells Fargo & Company from $51.00 to $53.00 in a research note on Thursday, October 12th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the company an "overweight" rating in a research note on Tuesday, January 30th. Barclays lifted their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an "overweight" rating in a research report on Tuesday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Ten equities 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. Based on data from MarketBeat, Wells Fargo & Company has an average rating of "Hold" and an average price target of $51.43.
Get Our Latest Stock Report on Wells Fargo & Company
About Wells Fargo & Company
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Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Further Reading
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).
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