BI Asset Management Fondsmaeglerselskab A S Has $953,000 Stake in Wells Fargo & Company (NYSE:WFC)

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 34.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,367 shares of the financial services provider’s stock after selling 10,187 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Wells Fargo & Company were worth $953,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $29,000. Fortis Group Advisors LLC bought a new position in Wells Fargo & Company in the third quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $32,000. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WFC shares. Evercore ISI lifted their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. HSBC lifted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Citigroup reiterated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Morgan Stanley lifted their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Compass Point reissued a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Trading Down 0.9 %

Shares of WFC opened at $60.93 on Thursday. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The business’s fifty day moving average is $58.93 and its 200-day moving average is $52.21. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market cap of $212.42 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.62 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. Equities analysts anticipate that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wells Fargo & 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.