Wells Fargo & Company (NYSE:WFC) Stake Lowered by GW&K Investment Management LLC

GW&K Investment Management LLC decreased its stake in Wells Fargo & Company (NYSE:WFC) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 317,871 shares of the financial services provider’s stock after selling 8,069 shares during the period. GW&K Investment Management LLC’s holdings in Wells Fargo & Company were worth $15,646,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Quest Partners LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $1,501,000. Trexquant Investment LP acquired a new position in Wells Fargo & Company during the 4th quarter valued at about $6,876,000. Sachetta LLC bought a new position in Wells Fargo & Company in the 4th quarter worth about $229,000. Clearbridge Investments LLC increased its stake in shares of Wells Fargo & Company by 3.3% in the fourth quarter. Clearbridge Investments LLC now owns 3,942,281 shares of the financial services provider’s stock valued at $194,039,000 after purchasing an additional 125,793 shares during the period. Finally, Balentine LLC raised its holdings in shares of Wells Fargo & Company by 91.4% during the fourth quarter. Balentine LLC now owns 19,787 shares of the financial services provider’s stock valued at $974,000 after buying an additional 9,450 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 0.2 %

NYSE WFC traded down $0.12 during trading on Wednesday, reaching $61.34. The company’s stock had a trading volume of 1,179,395 shares, compared to its average volume of 18,475,275. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $213.85 billion, a PE ratio of 12.82, a PEG ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The business has a 50-day moving average price of $58.87 and a 200-day moving average price of $52.15.

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 (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during 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%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. On average, research analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.28%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of recent analyst reports. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Evercore ISI raised their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Argus lifted their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Jefferies Financial Group boosted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Fourteen 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 company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.99.

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.