Canoe Financial LP lessened its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,624,723 shares of the financial services provider's stock after selling 246,996 shares during the quarter. Wells Fargo & Company accounts for about 2.7% of Canoe Financial LP's investment portfolio, making the stock its 11th biggest holding. Canoe Financial LP owned about 0.08% of Wells Fargo & Company worth $184,361,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. Income Research & Management bought a new position in Wells Fargo & Company during the 3rd quarter worth about $211,000. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company during the second quarter worth about $25,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Wells Fargo & Company in the 2nd quarter valued at approximately $26,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Institutional investors own 75.90% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on WFC. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a report on Thursday. Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th. UBS Group increased their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Wolfe Research raised Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price target for the company in a research report on Tuesday, October 8th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $73.39.
Read Our Latest Stock Report on Wells Fargo & Company
Wells Fargo & Company Stock Performance
NYSE WFC traded up $1.27 during trading on Friday, reaching $77.22. The company's stock had a trading volume of 20,609,919 shares, compared to its average volume of 12,688,081. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The firm has a 50 day moving average price of $72.74 and a 200 day moving average price of $63.46. The firm has a market capitalization of $257.11 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company's revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company's payout ratio is presently 29.74%.
Wells Fargo & Company Company Profile
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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.
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