V Square Quantitative Management LLC Cuts Stock Position in Wells Fargo & Company (NYSE:WFC)

V Square Quantitative Management LLC lowered its position in Wells Fargo & Company (NYSE:WFC) by 11.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,555 shares of the financial services provider’s stock after selling 438 shares during the quarter. V Square Quantitative Management LLC’s holdings in Wells Fargo & Company were worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Income Research & Management purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $211,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in Wells Fargo & Company in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on WFC shares. Keefe, Bruyette & Woods lifted their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Evercore ISI lifted their target price 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. The Goldman Sachs Group lifted their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup lifted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Barclays lifted their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note 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 MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $79.68 on Monday. The firm has a market cap of $265.29 billion, a PE ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. The firm has a fifty day moving average of $74.41 and a 200 day moving average of $66.15. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a one year low of $48.62 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion during 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 revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. 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 presently 29.74%.

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.