Freemont Management S.A. Sells 32,700 Shares of Wells Fargo & Company $WFC

Freemont Management S.A. lowered its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 88.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,400 shares of the financial services provider’s stock after selling 32,700 shares during the quarter. Freemont Management S.A.’s holdings in Wells Fargo & Company were worth $369,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Access Investment Management LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. Marquette Asset Management LLC lifted its holdings in shares of 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 buying an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth $30,000. Kilter Group LLC bought a new position in shares of Wells Fargo & Company during the second quarter worth $31,000. Finally, Aventus Investment Advisors Inc. purchased a new position in Wells Fargo & Company during the third quarter valued at $37,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on WFC shares. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. HSBC reiterated a “hold” rating and issued a $74.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. CICC Research started coverage on Wells Fargo & Company in a report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price target for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.29.

Wells Fargo & Company Trading Down 3.1%

Shares of NYSE WFC opened at $86.18 on Friday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The business’s 50 day moving average is $91.86 and its two-hundred day moving average is $85.85. The stock has a market capitalization of $270.53 billion, a P/E ratio of 13.74, a PEG ratio of 0.97 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results 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. The firm had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. As a group, research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed 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. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s payout ratio is presently 28.71%.

Wells Fargo & Company Company Profile

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.