Wilsey Asset Management Inc. Sells 7,309 Shares of Wells Fargo & Company (NYSE:WFC)

Wilsey Asset Management Inc. reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 599,745 shares of the financial services provider’s stock after selling 7,309 shares during the period. Wells Fargo & Company accounts for approximately 7.8% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Wilsey Asset Management Inc.’s holdings in Wells Fargo & Company were worth $42,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ritholtz Wealth Management lifted its stake in shares of Wells Fargo & Company by 9.1% in the 3rd quarter. Ritholtz Wealth Management now owns 58,135 shares of the financial services provider’s stock valued at $3,284,000 after purchasing an additional 4,848 shares during the period. Cardinal Capital Management Inc. boosted its holdings in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Cardinal Capital Management Inc. now owns 575,419 shares of the financial services provider’s stock worth $32,505,000 after buying an additional 11,037 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Wells Fargo & Company by 11.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 161,174 shares of the financial services provider’s stock worth $9,105,000 after buying an additional 16,819 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in shares of Wells Fargo & Company by 31.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 6,202 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 1,493 shares in the last quarter. Finally, Polianta Ltd bought a new position in Wells Fargo & Company during the third quarter worth $1,118,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $80.76 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $268.89 billion, a PE ratio of 15.01, a PEG ratio of 1.22 and a beta of 1.18. The stock’s 50 day moving average price is $73.89 and its 200-day moving average price is $65.47. Wells Fargo & Company has a twelve month low of $47.47 and a twelve month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.98%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

WFC has been the topic of several research reports. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Barclays increased their price target on 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 boosted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted 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. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock 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.