Wells Fargo & Company (NYSE:WFC) Stock Holdings Lessened by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 77,045 shares of the financial services provider’s stock after selling 929 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Wells Fargo & Company were worth $5,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WFC. Jacobsen Capital Management boosted its position 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. Quad Cities Investment Group LLC grew its holdings in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock worth $3,693,000 after purchasing an additional 158 shares during the last quarter. Investors Research Corp increased its stake in shares of Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after buying an additional 160 shares during the period. Ellenbecker Investment Group raised its holdings in Wells Fargo & Company by 3.9% in the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock valued at $250,000 after buying an additional 164 shares during the last quarter. Finally, Income Research & Management acquired a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $211,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price objective for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Evercore ISI increased their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $80.76 on Friday. 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 50-day moving average of $73.89 and a 200-day moving average of $65.43. Wells Fargo & Company has a one year low of $47.47 and a one year high of $81.50. The company has a market cap of $268.89 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.22 and a beta of 1.18.

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

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 1.98%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wells Fargo & Company 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.