Founders Financial Alliance LLC Decreases Stock Position in Wells Fargo & Company (NYSE:WFC)

Founders Financial Alliance LLC lessened its position in Wells Fargo & Company (NYSE:WFC) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,190 shares of the financial services provider’s stock after selling 325 shares during the quarter. Founders Financial Alliance LLC’s holdings in Wells Fargo & Company were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Wells Fargo & Company during the fourth quarter worth approximately $2,623,044,000. Northern Trust Corp lifted its position in Wells Fargo & Company by 0.3% during the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after buying an additional 129,300 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Wells Fargo & Company by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after acquiring an additional 526,178 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Wells Fargo & Company by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock worth $932,352,000 after acquiring an additional 596,521 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in Wells Fargo & Company by 1.9% during the third quarter. Pzena Investment Management LLC now owns 18,269,318 shares of the financial services provider’s stock worth $746,484,000 after acquiring an additional 335,560 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on WFC shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Compass Point reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Finally, Evercore ISI lifted their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus target price of $58.99.

Wells Fargo & Company Stock Up 0.9 %

WFC traded up $0.53 on Friday, hitting $60.21. 9,913,040 shares of the company were exchanged, compared to its average volume of 16,097,602. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The company has a market cap of $209.91 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $59.03 and a two-hundred day moving average price of $52.47.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.