UMB Bank n.a. Sells 18,212 Shares of Wells Fargo & Company (NYSE:WFC)

UMB Bank n.a. cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 329,119 shares of the financial services provider’s stock after selling 18,212 shares during the quarter. UMB Bank n.a.’s holdings in Wells Fargo & Company were worth $16,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Norges Bank bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $2,049,693,000. Northern Trust Corp lifted its position in Wells Fargo & Company by 0.3% during the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after acquiring an additional 129,300 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Wells Fargo & Company by 129,312.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Wells Fargo & Company by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock worth $1,061,357,000 after purchasing an additional 64,080 shares during the period. Finally, Pzena Investment Management LLC increased its stake in shares of Wells Fargo & Company by 1.9% during the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock valued at $746,484,000 after purchasing an additional 335,560 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $57.13 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $202.26 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.19 and a beta of 1.19. The firm’s 50 day moving average price is $53.92 and its 200-day moving average price is $47.54. Wells Fargo & Company has a twelve month low of $36.27 and a twelve month high of $58.44.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The firm had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. Wells Fargo & Company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. Equities research analysts expect that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Announces Dividend

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 dividend yield of 2.45%. Wells Fargo & Company’s payout ratio is currently 29.05%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, March 19th. Raymond James increased their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday. Citigroup reiterated a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $56.68.

Check Out Our Latest Stock Report on WFC

Wells Fargo & Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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