Wells Fargo & Company (NYSE:WFC) Stock Holdings Reduced by Check Capital Management Inc. CA

Check Capital Management Inc. CA reduced its position in Wells Fargo & Company (NYSE:WFC) by 31.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,863 shares of the financial services provider’s stock after selling 3,106 shares during the period. Check Capital Management Inc. CA’s holdings in Wells Fargo & Company were worth $338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arlington Trust Co LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $29,000. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $25,000. Studio Investment Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $28,000. Finally, Venturi Wealth Management LLC boosted its position in Wells Fargo & Company by 108.0% during the fourth quarter. Venturi Wealth Management LLC now owns 724 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 376 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Compass Point restated a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Finally, Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target on the stock. in a research report on Thursday, January 18th. Thirteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Price Performance

NYSE WFC traded up $1.61 on Friday, reaching $60.36. The company’s stock had a trading volume of 34,331,115 shares, compared to its average volume of 18,978,080. The firm has a market cap of $213.68 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. The business has a 50-day moving average price of $55.63 and a 200 day moving average price of $48.68. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $60.85. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the previous year, the business earned $1.23 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Wells Fargo & 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.