Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Wells Fargo & Company (NYSE:WFC)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Wells Fargo & Company (NYSE:WFC) by 43.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 704,911 shares of the financial services provider’s stock after selling 547,865 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Wells Fargo & Company were worth $34,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Norges Bank purchased a new stake in Wells Fargo & Company in the fourth quarter worth $2,049,693,000. Northern Trust Corp increased its position in Wells Fargo & Company by 0.3% in the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after buying an additional 129,300 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 129,312.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after acquiring an additional 26,267,166 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Wells Fargo & Company by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock worth $1,061,357,000 after acquiring an additional 64,080 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in shares of Wells Fargo & Company by 1.9% in the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after acquiring an additional 335,560 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday. Citigroup reaffirmed a “neutral” rating and issued a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Compass Point reaffirmed a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Jefferies Financial Group raised their price target on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Raymond James raised their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Trading Down 1.0 %

Shares of WFC stock opened at $56.40 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average price of $55.25 and a two-hundred day moving average price of $48.55. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $58.44. The firm has a market cap of $199.68 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of 1.15 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 4.86 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.48%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

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.