Harel Insurance Investments & Financial Services Ltd. Has $276,000 Stake in Wells Fargo & Company (NYSE:WFC)

Harel Insurance Investments & Financial Services Ltd. cut its position in shares of Wells Fargo & Company (NYSE:WFC) by 15.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,577 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Wells Fargo & Company were worth $276,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter worth about $25,000. Arlington Trust Co LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. lifted its stake in Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock valued at $26,000 after buying an additional 356,620 shares during the period. Studio Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $28,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on WFC shares. Barclays increased their target price on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday. Compass Point reaffirmed a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. HSBC lifted their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. Finally, Evercore ISI upped 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. Thirteen 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $56.97 on Tuesday. The business’s fifty day moving average is $55.08 and its 200 day moving average is $48.44. The firm has a market cap of $201.70 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $58.44.

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 for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the prior year, the business posted $1.23 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Research analysts predict that Wells Fargo & Company will post 4.68 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio 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.