Amalgamated Bank Has $43.58 Million Position in Wells Fargo & Company (NYSE:WFC)

Amalgamated Bank cut its stake in Wells Fargo & Company (NYSE:WFC) by 4.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 885,459 shares of the financial services provider’s stock after selling 42,934 shares during the quarter. Amalgamated Bank’s holdings in Wells Fargo & Company were worth $43,582,000 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 the business. Panagora Asset Management Inc. boosted its position in Wells Fargo & Company by 131.0% during the third quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock worth $141,124,000 after purchasing an additional 1,958,483 shares during the period. Nordea Investment Management AB grew its stake in shares of Wells Fargo & Company by 42.7% in the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after acquiring an additional 1,729,132 shares in the last quarter. Artemis Investment Management LLP raised its stake in Wells Fargo & Company by 87.8% in the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after purchasing an additional 1,549,979 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the 3rd quarter valued at about $54,894,000. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Wells Fargo & Company by 37.7% during the third quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock worth $174,078,000 after purchasing an additional 1,166,000 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WFC. Evercore ISI boosted their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Compass Point reaffirmed a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a research note on Thursday, January 18th. Robert W. Baird reiterated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $0.31 on Thursday, reaching $59.83. 15,201,246 shares of the stock were exchanged, compared to its average volume of 18,932,480. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76. The business has a fifty day moving average price of $57.38 and a two-hundred day moving average price of $50.03. The firm has a market capitalization of $211.82 billion, a PE ratio of 12.41, a PEG ratio of 1.15 and a beta of 1.18. 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 earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.34%. 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.