Wells Fargo (WFC) Shares Bought by Cedar Hill Associates LLC

Cedar Hill Associates LLC boosted its stake in shares of Wells Fargo (NYSE:WFC) by 15.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,186 shares of the financial services provider’s stock after purchasing an additional 1,115 shares during the period. Cedar Hill Associates LLC’s holdings in Wells Fargo were worth $496,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Wells Fargo by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 46,311,774 shares of the financial services provider’s stock valued at $2,803,705,000 after acquiring an additional 584,764 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Wells Fargo by 17.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 35,143,414 shares of the financial services provider’s stock valued at $1,937,888,000 after acquiring an additional 5,305,125 shares during the last quarter. Davis Selected Advisers boosted its holdings in shares of Wells Fargo by 1.4% in the 3rd quarter. Davis Selected Advisers now owns 26,335,478 shares of the financial services provider’s stock valued at $1,451,064,000 after acquiring an additional 368,667 shares during the last quarter. Magellan Asset Management Ltd boosted its holdings in shares of Wells Fargo by 5.1% in the 4th quarter. Magellan Asset Management Ltd now owns 25,007,676 shares of the financial services provider’s stock valued at $1,517,216,000 after acquiring an additional 1,222,262 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Wells Fargo by 3.1% in the 3rd quarter. Legal & General Group Plc now owns 23,220,873 shares of the financial services provider’s stock valued at $1,280,531,000 after acquiring an additional 696,233 shares during the last quarter. 76.79% of the stock is currently owned by institutional investors.

Several equities analysts recently issued reports on WFC shares. Vining Sparks reiterated a “buy” rating and issued a $68.50 target price on shares of Wells Fargo in a research note on Monday, February 5th. Bank of America decreased their target price on shares of Wells Fargo from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Nomura decreased their target price on shares of Wells Fargo from $79.00 to $76.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Zacks Investment Research upgraded shares of Wells Fargo from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Saturday, February 10th. Finally, UBS upgraded shares of Wells Fargo from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, April 5th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $61.83.

Wells Fargo opened at $54.22 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.27. The firm has a market cap of $267.06 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.48 and a beta of 1.13. Wells Fargo has a fifty-two week low of $54.54 and a fifty-two week high of $54.94.

Wells Fargo (NYSE:WFC) last posted its quarterly earnings data on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.05. The company had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $21.74 billion. Wells Fargo had a net margin of 22.80% and a return on equity of 12.46%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 earnings per share. equities research analysts predict that Wells Fargo will post 4.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, May 3rd. Wells Fargo’s dividend payout ratio (DPR) is 37.96%.

Wells Fargo announced that its Board of Directors has approved a share buyback plan on Tuesday, January 23rd that allows the company to repurchase 350,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wells Fargo Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Institutional Ownership by Quarter for Wells Fargo (NYSE:WFC)

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