Wells Fargo & Company (NYSE:WFC) Shares Purchased by Sound Shore Management Inc CT

Sound Shore Management Inc CT increased its stake in shares of Wells Fargo & Company (NYSE:WFCGet Rating) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,621,225 shares of the financial services provider’s stock after purchasing an additional 44,384 shares during the quarter. Wells Fargo & Company accounts for approximately 4.3% of Sound Shore Management Inc CT’s holdings, making the stock its 2nd biggest position. Sound Shore Management Inc CT owned approximately 0.07% of Wells Fargo & Company worth $105,426,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its holdings in Wells Fargo & Company by 23.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 87,369,282 shares of the financial services provider’s stock valued at $3,422,255,000 after acquiring an additional 16,552,773 shares during the period. Renaissance Technologies LLC lifted its holdings in Wells Fargo & Company by 1,478.6% in the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after acquiring an additional 7,859,100 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in Wells Fargo & Company in the first quarter valued at $345,861,000. Arrowstreet Capital Limited Partnership increased its position in shares of Wells Fargo & Company by 5,232.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,211,291 shares of the financial services provider’s stock valued at $155,619,000 after buying an additional 3,151,066 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Wells Fargo & Company by 62.5% in the second quarter. AQR Capital Management LLC now owns 4,437,545 shares of the financial services provider’s stock valued at $171,067,000 after buying an additional 1,707,261 shares in the last quarter. 72.24% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Wells Fargo & Company from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $48.00 in a research report on Monday, October 3rd. JPMorgan Chase & Co. raised their price target on Wells Fargo & Company from $46.50 to $49.50 in a research report on Wednesday, November 2nd. Morgan Stanley dropped their price target on Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, December 15th. Odeon Capital Group upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $51.79 price target for the company in a research report on Tuesday, January 10th. Finally, Cfra upgraded Wells Fargo & Company to a “buy” rating and set a $50.00 price target for the company in a research report on Friday, January 13th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.62.

Wells Fargo & Company Stock Down 0.7 %

Shares of NYSE:WFC opened at $44.13 on Wednesday. The firm has a market cap of $168.16 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.91 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $36.54 and a 12-month high of $60.30. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.08. The stock’s 50-day moving average price is $43.60 and its two-hundred day moving average price is $43.69.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $19.66 billion for the quarter, compared to analyst estimates of $20.04 billion. Wells Fargo & Company had a return on equity of 9.28% and a net margin of 15.91%. The company’s revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.38 EPS. On average, research analysts forecast that Wells Fargo & Company will post 4.86 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Friday, February 3rd will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.72%. Wells Fargo & Company’s dividend payout ratio is currently 38.22%.

Wells Fargo & Company Profile

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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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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