Boston Partners lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 12.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,949,825 shares of the financial services provider's stock after selling 2,306,243 shares during the quarter. Wells Fargo & Company accounts for approximately 0.9% of Boston Partners' portfolio, making the stock its 19th largest position. Boston Partners owned about 0.44% of Wells Fargo & Company worth $650,877,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of WFC. Studio Investment Management LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $28,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company during the 1st quarter worth $28,000. Baystate Wealth Management LLC boosted its holdings in Wells Fargo & Company by 53.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider's stock worth $33,000 after acquiring an additional 278 shares during the last quarter. Impact Partnership Wealth LLC purchased a new position in Wells Fargo & Company during the 3rd quarter worth $34,000. Finally, Central Bank & Trust Co. boosted its holdings in Wells Fargo & Company by 444.8% during the 3rd quarter. Central Bank & Trust Co. now owns 899 shares of the financial services provider's stock worth $37,000 after acquiring an additional 734 shares during the last quarter. 72.47% of the stock is owned by hedge funds and other institutional investors.
Wells Fargo & Company Price Performance
Shares of WFC traded down $1.11 during midday trading on Thursday, hitting $48.72. 13,459,021 shares of the company traded hands, compared to its average volume of 18,206,553. The stock has a 50-day moving average of $47.85 and a 200-day moving average of $44.12. Wells Fargo & Company has a one year low of $35.25 and a one year high of $51.44. The firm has a market cap of $176.93 billion, a P/E ratio of 9.95, a PEG ratio of 1.06 and a beta of 1.17. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share 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 quarter in the prior year, the company earned $0.67 earnings per share. The company's quarterly revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.
Wells Fargo & Company Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 2nd will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Thursday, February 1st. Wells Fargo & Company's dividend payout ratio is presently 29.05%.
Analyst Ratings Changes
A number of brokerages recently weighed in on WFC. The Goldman Sachs Group boosted their price target on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Friday, December 1st. Robert W. Baird reissued a "neutral" rating and issued a $55.00 price target on shares of Wells Fargo & Company in a report on Monday, January 8th. BMO Capital Markets boosted their price target on shares of Wells Fargo & Company from $52.00 to $54.00 and gave the stock a "market perform" rating in a report on Monday, October 16th. UBS Group boosted their price target on shares of Wells Fargo & Company from $51.00 to $53.00 in a report on Thursday, October 12th. Finally, Jefferies Financial Group cut their price target on shares of Wells Fargo & Company from $48.00 to $43.00 in a report on Tuesday, October 10th. Ten analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.43.
View Our Latest Research Report on WFC
Insider Activity
In related news, Director Richard K. Davis purchased 3,500 shares of the firm's stock in a transaction dated Thursday, November 9th. The shares were purchased at an average cost of $41.22 per share, for a total transaction of $144,270.00. Following the completion of the transaction, the director now directly owns 4,244 shares in the company, valued at approximately $174,937.68. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company's stock.
About Wells Fargo & Company
(
Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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