Wells Fargo & Company (NYSE:WFC) Holdings Decreased by Kiltearn Partners LLP

Kiltearn Partners LLP trimmed its position in Wells Fargo & Company (NYSE:WFC) by 64.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,499 shares of the financial services provider’s stock after selling 630,500 shares during the quarter. Wells Fargo & Company makes up approximately 1.8% of Kiltearn Partners LLP’s holdings, making the stock its 24th largest position. Kiltearn Partners LLP’s holdings in Wells Fargo & Company were worth $19,898,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WFC. Norges Bank bought a new position in Wells Fargo & Company during the 4th quarter worth $2,623,044,000. Capital World Investors grew its stake in Wells Fargo & Company by 1.0% during the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after buying an additional 263,176 shares during the last quarter. Sanders Capital LLC grew its stake in Wells Fargo & Company by 3.2% during the 4th quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after buying an additional 781,772 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Wells Fargo & Company by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after buying an additional 526,178 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Wells Fargo & Company by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock worth $932,352,000 after buying an additional 596,521 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 1.2 %

Wells Fargo & Company stock traded up $0.69 during mid-day trading on Friday, hitting $60.39. The company’s stock had a trading volume of 12,538,935 shares, compared to its average volume of 16,486,272. The firm’s 50 day moving average is $59.15 and its 200 day moving average is $56.59. The company has a market cap of $210.54 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.17. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period in the prior year, the firm posted $1.25 EPS. The business’s revenue was up .8% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. Wells Fargo & Company’s dividend payout ratio is currently 28.75%.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Morgan Stanley increased their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Argus upped their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.31.

Wells Fargo & Company Company Profile

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.