Wells Fargo & Company (NYSE:WFC) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP trimmed its position in Wells Fargo & Company (NYSE:WFC) by 28.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,637 shares of the financial services provider’s stock after selling 4,281 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Wells Fargo & Company were worth $747,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WFC. Jacobsen Capital Management raised its stake in Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock valued at $381,000 after buying an additional 148 shares in the last quarter. New Republic Capital LLC raised its position in shares of Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 149 shares in the last quarter. Quad Cities Investment Group LLC raised its position in shares of Wells Fargo & Company by 0.3% during the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after acquiring an additional 158 shares in the last quarter. Investors Research Corp lifted its stake in Wells Fargo & Company by 1.2% during the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 160 shares during the last quarter. Finally, Ellenbecker Investment Group boosted its holdings in Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after purchasing an additional 164 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $79.66 on Wednesday. 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 firm has a market cap of $265.23 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The firm’s fifty day moving average price is $73.97 and its 200 day moving average price is $65.64. Wells Fargo & Company has a 1-year low of $47.59 and a 1-year high of $81.50.

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

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WFC. Barclays raised their price objective 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. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup boosted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. 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 report on Thursday, January 16th. Finally, Keefe, Bruyette & Woods boosted their target price 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. Eleven investment 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, the 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.