Wells Fargo & Company (NYSE:WFC) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,157 shares of the financial services provider’s stock after selling 225 shares during the period. Jacobs & Co. CA’s holdings in Wells Fargo & Company were worth $598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Defender Capital LLC. acquired a new stake in Wells Fargo & Company in the first quarter worth approximately $246,000. Fairfield Bush & CO. acquired a new stake in Wells Fargo & Company in the first quarter worth approximately $124,000. Dakota Wealth Management acquired a new stake in Wells Fargo & Company in the first quarter worth approximately $222,000. Candriam Luxembourg S.C.A. lifted its position in Wells Fargo & Company by 0.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock worth $13,274,000 after purchasing an additional 770 shares during the period. Finally, Zions Bancorporation N.A. lifted its position in Wells Fargo & Company by 24.5% in the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 1,895 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on WFC. Morgan Stanley upped their price target on Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Raymond James boosted their target price on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Barclays boosted their target price on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, March 19th. Twelve investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $55.19.

Wells Fargo & Company Price Performance

WFC opened at $57.61 on Thursday. Wells Fargo & Company has a one year low of $36.27 and a one year high of $58.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50 day simple moving average is $52.78 and its 200-day simple moving average is $46.94. The stock has a market capitalization of $203.96 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. During the same period last year, the company earned $0.67 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.43%. Wells Fargo & Company’s payout ratio is presently 29.05%.

About Wells Fargo & Company

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.