Sciencast Management LP Trims Stake in Wells Fargo & Company (NYSE:WFC)

Sciencast Management LP trimmed its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 75.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,471 shares of the financial services provider's stock after selling 37,510 shares during the period. Sciencast Management LP's holdings in Wells Fargo & Company were worth $876,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WFC. Rialto Wealth Management LLC bought a new position in Wells Fargo & Company in the fourth quarter worth about $26,000. Truvestments Capital LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $30,000. Finally, Rakuten Securities Inc. boosted its stake in Wells Fargo & Company by 126.7% in 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. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WFC shares. Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Barclays increased their price target 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. The Goldman Sachs Group lifted their price objective 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, UBS Group raised their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $74.18.

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Wells Fargo & Company Price Performance

WFC stock traded up $0.14 during trading on Tuesday, hitting $74.42. The stock had a trading volume of 5,136,328 shares, compared to its average volume of 16,416,712. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The company's 50-day moving average price is $76.03 and its two-hundred day moving average price is $69.62. The stock has a market capitalization of $244.72 billion, a P/E ratio of 13.83, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion for the quarter, compared to analysts' expectations of $20.58 billion. During the same period in the previous year, the firm posted $0.86 EPS. The business's revenue for the quarter was down .5% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.15%. Wells Fargo & Company's payout ratio is 29.74%.

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.