Wells Fargo & Company (NYSE:WFC) Holdings Trimmed by Morningstar Investment Services LLC

Morningstar Investment Services LLC decreased its stake in Wells Fargo & Company (NYSE:WFC – Get Rating) by 1.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,786,658 shares of the financial services provider’s stock after selling 21,035 shares during the quarter. Wells Fargo & Company accounts for about 1.0% of Morningstar Investment Services LLC’s investment portfolio, making the stock its 23rd largest holding. Morningstar Investment Services LLC’s holdings in Wells Fargo & Company were worth $75,841,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of WFC. US Asset Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $28,000. Capital Advisors Ltd. LLC raised its stake in shares of Wells Fargo & Company by 494.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 2,754 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 2,291 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Lam Group Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $37,000. Finally, Morgan Dempsey Capital Management LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $37,000. 72.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Royal Bank of Canada decreased their price objective on Wells Fargo & Company from $45.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, March 24th. Barclays decreased their price objective on Wells Fargo & Company from $64.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, April 12th. StockNews.com started coverage on Wells Fargo & Company in a research report on Thursday, May 18th. They set a “hold” rating for the company. Raymond James upped their target price on Wells Fargo & Company from $47.00 to $48.00 and gave the stock a “strong-buy” rating in a report on Monday, April 17th. Finally, Morgan Stanley dropped their target price on Wells Fargo & Company from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, April 17th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $49.45.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $0.55 on Friday, hitting $41.45. The stock had a trading volume of 7,233,729 shares, compared to its average volume of 23,564,494. Wells Fargo & Company has a twelve month low of $35.25 and a twelve month high of $48.84. The business’s 50 day moving average is $38.99 and its two-hundred day moving average is $42.70. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock has a market cap of $155.53 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.84 and a beta of 1.12.

Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its quarterly earnings results on Friday, April 14th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.08. The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $20.06 billion. Wells Fargo & Company had a return on equity of 10.07% and a net margin of 15.93%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. Analysts forecast that Wells Fargo & Company will post 4.79 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 5th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Thursday, May 4th. Wells Fargo & Company’s dividend payout ratio is currently 34.38%.

Wells Fargo & Company Company Profile

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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.