Round Hill Asset Management Has $2.47 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Round Hill Asset Management trimmed its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 35,192 shares of the financial services provider’s stock after selling 4,600 shares during the period. Wells Fargo & Company makes up approximately 1.7% of Round Hill Asset Management’s investment portfolio, making the stock its 19th largest position. Round Hill Asset Management’s holdings in Wells Fargo & Company were worth $2,472,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC boosted its stake in shares of Wells Fargo & Company by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 441,872 shares of the financial services provider’s stock valued at $24,950,000 after buying an additional 1,300 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 15.1% during the third quarter. EP Wealth Advisors LLC now owns 206,331 shares of the financial services provider’s stock worth $11,656,000 after acquiring an additional 27,049 shares in the last quarter. DF Dent & Co. Inc. acquired a new stake in Wells Fargo & Company during the third quarter valued at $747,000. Zacks Investment Management grew its stake in Wells Fargo & Company by 1.3% in the third quarter. Zacks Investment Management now owns 15,631 shares of the financial services provider’s stock valued at $883,000 after purchasing an additional 197 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in Wells Fargo & Company by 2.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 142,573 shares of the financial services provider’s stock worth $8,054,000 after purchasing an additional 3,539 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. Bank of America reduced their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays lifted their target price 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. UBS Group increased their price target 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. Compass Point lifted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.50.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $60.91 on Monday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a fifty day moving average price of $74.93 and a 200 day moving average price of $70.67. The stock has a market cap of $198.89 billion, a P/E ratio of 11.32, a PEG ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC) last released 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. Analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 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.