Tobam Trims Position in Wells Fargo & Company (NYSE:WFC)

Tobam lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 22.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,209 shares of the financial services provider’s stock after selling 2,877 shares during the quarter. Tobam’s holdings in Wells Fargo & Company were worth $717,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WFC. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company in the third quarter valued at $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. acquired a new position in Wells Fargo & Company in the third quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $81.45 on Friday. The firm has a market capitalization of $271.18 billion, a PE ratio of 15.14, a PEG ratio of 1.19 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $81.50. The firm’s 50-day moving average price is $73.72 and its 200 day moving average price is $65.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on WFC shares. Compass Point lifted their target price 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. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. UBS Group increased their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. 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 research note on Thursday, January 16th. Finally, 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 research report on Wednesday, October 30th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus price target of $73.39.

About Wells Fargo & Company

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.