Metis Global Partners LLC Has $12.87 Million Stock Holdings in Wells Fargo & Company $WFC

Metis Global Partners LLC reduced its stake in Wells Fargo & Company (NYSE:WFC) by 7.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,493 shares of the financial services provider’s stock after selling 13,245 shares during the period. Metis Global Partners LLC’s holdings in Wells Fargo & Company were worth $12,866,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Access Investment Management LLC acquired a new stake in Wells Fargo & Company during the second quarter worth approximately $25,000. Marquette Asset Management LLC grew its position 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 valued at $28,000 after purchasing an additional 274 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter worth approximately $30,000. Kilter Group LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $31,000. Finally, Aventus Investment Advisors Inc. bought a new stake in Wells Fargo & Company in the 3rd quarter valued at $37,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WFC shares. Argus lifted their target price on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. CICC Research initiated coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 price objective for the company. Evercore lowered their price objective on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Thirteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.29.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $86.18 on Friday. The company’s 50 day moving average price is $91.86 and its two-hundred day moving average price is $85.85. The firm has a market capitalization of $270.53 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.97 and a beta of 1.09. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week 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.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating 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 analysts’ expectations of $21.63 billion. During the same period in the prior year, the company earned $1.43 EPS. Wells Fargo & Company’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) 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.