Rhumbline Advisers Decreases Holdings in Wells Fargo & Company (NYSE:WFC)

Rhumbline Advisers lessened its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,195,014 shares of the financial services provider's stock after selling 37,250 shares during the period. Rhumbline Advisers owned 0.19% of Wells Fargo & Company worth $435,138,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of WFC. Truvestments Capital LLC acquired a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter valued at $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth about $32,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Down 0.5 %

WFC traded down $0.39 during mid-day trading on Wednesday, reaching $80.39. 5,234,251 shares of the stock were exchanged, compared to its average volume of 14,893,251. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $267.65 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. The company has a 50 day moving average price of $74.72 and a two-hundred day moving average price of $66.55.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm's revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WFC shares. Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research report on Thursday, January 16th. UBS Group increased their target price 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 lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Hold" and an average price target of $73.39.

Wells Fargo & 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.