City State Bank Has $272,000 Stake in Wells Fargo & Company (NYSE:WFC)

City State Bank lowered its position in Wells Fargo & Company (NYSE:WFC – Get Rating) by 45.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,579 shares of the financial services provider’s stock after selling 5,544 shares during the quarter. City State Bank’s holdings in Wells Fargo & Company were worth $272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Wells Fargo & Company by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 326,822,162 shares of the financial services provider’s stock valued at $13,144,788,000 after purchasing an additional 3,920,830 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Wells Fargo & Company by 20.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 105,621,983 shares of the financial services provider’s stock valued at $4,248,626,000 after buying an additional 18,252,701 shares during the period. Sanders Capital LLC lifted its position in shares of Wells Fargo & Company by 1.7% in the third quarter. Sanders Capital LLC now owns 25,041,576 shares of the financial services provider’s stock valued at $1,007,172,000 after buying an additional 416,171 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Wells Fargo & Company by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock worth $1,061,357,000 after acquiring an additional 64,080 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Wells Fargo & Company by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 19,030,663 shares of the financial services provider’s stock worth $765,495,000 after acquiring an additional 153,177 shares during the last quarter. Institutional investors own 72.24% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Jefferies Financial Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and cut their price target for the company from $49.00 to $46.00 in a report on Tuesday, January 17th. StockNews.com initiated coverage on shares of Wells Fargo & Company in a research note on Thursday. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Wells Fargo & Company from $60.00 to $50.00 in a research note on Friday, January 6th. Citigroup raised their price objective on shares of Wells Fargo & Company from $48.00 to $52.00 in a research report on Tuesday, January 17th. Finally, Cfra raised Wells Fargo & Company to a “buy” rating and set a $50.00 price target for the company in a report on Friday, January 13th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average price target of $52.09.

Wells Fargo & Company Trading Down 3.9 %

Shares of Wells Fargo & Company stock traded down $1.54 on Friday, hitting $37.76. The stock had a trading volume of 47,403,809 shares, compared to its average volume of 25,722,444. The stock has a 50 day moving average of $45.02 and a 200 day moving average of $44.22. The firm has a market capitalization of $142.62 billion, a P/E ratio of 12.03, a PEG ratio of 0.80 and a beta of 1.17. Wells Fargo & Company has a twelve month low of $36.54 and a twelve month high of $54.20. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its quarterly earnings results on Friday, January 13th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $19.66 billion for the quarter, compared to analyst estimates of $20.04 billion. Wells Fargo & Company had a net margin of 15.91% and a return on equity of 9.28%. Wells Fargo & Company’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.38 earnings per share. Sell-side analysts expect that Wells Fargo & Company will post 4.81 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 3rd were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 2nd. This represents a $1.20 annualized dividend and a dividend yield of 3.18%. Wells Fargo & Company’s payout ratio is 38.22%.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Kleber Santos sold 34,698 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $46.27, for a total transaction of $1,605,476.46. Following the completion of the transaction, the executive vice president now owns 19,590 shares in the company, valued at approximately $906,429.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by corporate insiders.

Wells Fargo & Company Profile

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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.