BKD Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Co (NYSE:WFC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,776 shares of the financial services provider’s stock, valued at approximately $1,418,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of WFC. Capital International Investors grew its stake in Wells Fargo & Co by 270.1% during the 3rd quarter. Capital International Investors now owns 89,775,252 shares of the financial services provider’s stock worth $4,718,587,000 after buying an additional 65,517,025 shares during the last quarter. Primecap Management Co. CA lifted its position in Wells Fargo & Co by 47.1% during the 3rd quarter. Primecap Management Co. CA now owns 38,512,187 shares of the financial services provider’s stock worth $2,024,201,000 after acquiring an additional 12,337,098 shares during the period. TIAA CREF Investment Management LLC lifted its position in Wells Fargo & Co by 5.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 15,545,982 shares of the financial services provider’s stock worth $817,097,000 after acquiring an additional 839,794 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Wells Fargo & Co by 1.3% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 14,628,723 shares of the financial services provider’s stock worth $768,886,000 after acquiring an additional 188,734 shares during the period. Finally, Gardner Russo & Gardner LLC lifted its position in Wells Fargo & Co by 8.3% during the 3rd quarter. Gardner Russo & Gardner LLC now owns 13,376,592 shares of the financial services provider’s stock worth $703,074,000 after acquiring an additional 1,021,030 shares during the period. Institutional investors own 72.92% of the company’s stock.
A number of analysts have weighed in on the company. BMO Capital Markets increased their price objective on Wells Fargo & Co to $65.00 and gave the stock a “market perform” rating in a research report on Monday, October 15th. Robert W. Baird reaffirmed a “buy” rating and set a $59.00 price objective on shares of Wells Fargo & Co in a research report on Wednesday, January 2nd. ValuEngine cut Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Wednesday, December 12th. Wolfe Research cut Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Finally, Barclays reduced their price target on Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the company. Wells Fargo & Co presently has an average rating of “Hold” and an average price target of $61.33.
WFC stock traded down $0.43 during midday trading on Friday, hitting $47.65. 20,641,209 shares of the stock were exchanged, compared to its average volume of 20,885,244. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market cap of $232.42 billion, a PE ratio of 10.88, a P/E/G ratio of 0.86 and a beta of 1.11. Wells Fargo & Co has a fifty-two week low of $43.02 and a fifty-two week high of $61.26.
Wells Fargo & Co (NYSE:WFC) last announced its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.04. The business had revenue of $20.98 billion during the quarter, compared to the consensus estimate of $21.80 billion. Wells Fargo & Co had a return on equity of 13.34% and a net margin of 22.95%. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. As a group, equities research analysts predict that Wells Fargo & Co will post 4.96 earnings per share for the current year.
Wells Fargo & Co announced that its Board of Directors has approved a share buyback plan on Tuesday, October 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 1st will be given a $0.45 dividend. The ex-dividend date is Thursday, January 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.78%. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.43. Wells Fargo & Co’s payout ratio is currently 41.10%.
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Wells Fargo & Co Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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