Wells Fargo & Company (NYSE:WFC) Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC reduced its holdings in Wells Fargo & Company (NYSE:WFC) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,346 shares of the financial services provider’s stock after selling 253 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Wells Fargo & Company were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in WFC. Two Sigma Advisers LP increased its stake in Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after acquiring an additional 5,237,500 shares during the last quarter. Canoe Financial LP purchased a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $160,529,000. Caisse DE Depot ET Placement DU Quebec increased its position in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP lifted its position in Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock valued at $96,567,000 after buying an additional 1,105,679 shares in the last quarter. Finally, National Pension Service grew its stake in Wells Fargo & Company by 15.2% during the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after buying an additional 897,195 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

WFC stock opened at $78.41 on Thursday. The stock’s 50 day simple moving average is $73.35 and its 200 day simple moving average is $64.38. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $78.98. The firm has a market cap of $261.07 billion, a P/E ratio of 14.57, a P/E/G ratio of 1.17 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. Wells Fargo & Company’s payout ratio is currently 29.74%.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. UBS Group boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Barclays increased their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Evercore ISI upped their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research note on Tuesday, October 8th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Profile

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