Wells Fargo & Company $WFC is LSV Asset Management’s 8th Largest Position

LSV Asset Management reduced its position in Wells Fargo & Company (NYSE:WFC) by 4.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,520,348 shares of the financial services provider’s stock after selling 310,352 shares during the period. Wells Fargo & Company comprises about 1.2% of LSV Asset Management’s holdings, making the stock its 8th largest position. LSV Asset Management owned approximately 0.20% of Wells Fargo & Company worth $546,536,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in WFC. Access Investment Management LLC acquired a new position in Wells Fargo & Company in the second quarter worth approximately $25,000. Marquette Asset Management LLC grew its position in Wells Fargo & Company by 472.4% in the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth $30,000. Kilter Group LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $31,000. Finally, Aventus Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $37,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Bank of America increased their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. UBS Group restated a “buy” rating and issued a $113.00 target price on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Freedom Capital downgraded Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. Thirteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average target price of $97.29.

Wells Fargo & Company Stock Down 3.1%

WFC stock opened at $89.08 on Thursday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The company has a market cap of $279.63 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.01 and a beta of 1.09. The business’s 50-day simple moving average is $91.94 and its 200 day simple moving average is $85.85.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same quarter last year, the company earned $1.43 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Wells Fargo & Company will post 5.89 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 Sunday, March 1st. Shareholders of record on Friday, February 6th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, February 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.0%. Wells Fargo & Company’s payout ratio is currently 28.71%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.