Geode Capital Management LLC Raises Holdings in Wells Fargo & Company (NYSE:WFC)

Geode Capital Management LLC raised its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,287,393 shares of the financial services provider's stock after acquiring an additional 107,066 shares during the period. Geode Capital Management LLC owned approximately 2.14% of Wells Fargo & Company worth $4,998,487,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the fourth quarter worth about $26,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 0.7 %

Wells Fargo & Company stock traded down $0.52 during trading hours on Tuesday, reaching $71.27. The stock had a trading volume of 10,659,106 shares, compared to its average volume of 17,129,811. The company has a market cap of $232.72 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.18 and a beta of 1.16. The business's 50 day moving average price is $75.60 and its 200-day moving average price is $70.42. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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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 the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 EPS. Wells Fargo & Company's revenue was down .5% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. Wells Fargo & Company's dividend payout ratio is presently 29.74%.

Analysts Set New Price Targets

A number of analysts recently issued reports on WFC shares. Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Barclays raised their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. UBS Group upped their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price objective for the company in a research note on Thursday, March 13th. Finally, The Goldman Sachs Group increased their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $74.97.

Wells Fargo & Company Company Profile

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.