Wells Fargo & Company (NYSE:WFC) Holdings Cut by Sigma Planning Corp

Sigma Planning Corp lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,431 shares of the financial services provider’s stock after selling 7,800 shares during the period. Sigma Planning Corp’s holdings in Wells Fargo & Company were worth $3,472,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. National Pension Service lifted its holdings in Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock worth $383,532,000 after acquiring an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock worth $375,183,000 after acquiring an additional 162,066 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after buying an additional 575,892 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after buying an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP bought a new stake in shares of Wells Fargo & Company during the third quarter valued at approximately $160,529,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.5 %

Wells Fargo & Company stock opened at $77.43 on Friday. 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 firm has a market cap of $257.81 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The firm’s 50 day moving average price is $75.20 and its two-hundred day moving average price is $67.01.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 15.73% and a return on equity of 12.38%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 earnings per share. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.07%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WFC shares. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Evercore ISI lifted their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Morgan Stanley lifted their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.