Wells Fargo & Company (NYSE:WFC) Shares Sold by Capital International Sarl

Capital International Sarl trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,121 shares of the financial services provider’s stock after selling 1,848 shares during the period. Capital International Sarl’s holdings in Wells Fargo & Company were worth $2,818,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WFC. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $26,000. Investment Counsel Co. of Nevada acquired a new position in Wells Fargo & Company during the fourth quarter worth about $28,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. increased its stake in shares of Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Morgan Stanley increased their price objective on Wells Fargo & Company from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, April 14th. Citigroup lowered their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.34.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $64.63 on Friday. The firm has a fifty day moving average of $71.23 and a 200-day moving average of $71.05. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $211.02 billion, a P/E ratio of 12.01, a PEG ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion for the quarter, compared to analyst estimates of $20.82 billion. During the same period last year, the company posted $1.20 earnings per share. The firm’s revenue was down 3.4% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.48%. Wells Fargo & Company’s dividend payout ratio is currently 28.73%.

About Wells Fargo & Company

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.