Wells Fargo & Company (NYSE:WFC) Shares Sold by Brookmont Capital Management

Brookmont Capital Management lowered its stake in shares of Wells Fargo & Company (NYSE:WFCFree Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,027 shares of the financial services provider’s stock after selling 2,448 shares during the period. Wells Fargo & Company makes up 2.5% of Brookmont Capital Management’s investment portfolio, making the stock its 10th biggest holding. Brookmont Capital Management’s holdings in Wells Fargo & Company were worth $4,530,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Norges Bank acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $2,049,693,000. Northern Trust Corp lifted its position in Wells Fargo & Company by 0.3% in the 3rd quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock valued at $1,560,755,000 after acquiring an additional 129,300 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Wells Fargo & Company by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 21,901,706 shares of the financial services provider’s stock valued at $1,061,357,000 after purchasing an additional 64,080 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings 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 buying an additional 335,560 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, March 19th. Compass Point upped their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday. Robert W. Baird reissued a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. Finally, Morgan Stanley increased their target price on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $55.85.

View Our Latest Report on WFC

Wells Fargo & Company Trading Up 0.6 %

NYSE:WFC opened at $57.96 on Friday. The company has a 50-day moving average price of $53.23 and a 200-day moving average price of $47.09. Wells Fargo & Company has a 12 month low of $36.27 and a 12 month high of $58.44. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a market cap of $205.20 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.20 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. During the same period last year, the business earned $0.67 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.42%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.05%.

Wells Fargo & Company Company Profile

(Free Report)

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.

See Also

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

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