Norinchukin Bank The Grows Stake in Wells Fargo & Company (NYSE:WFC)

Norinchukin Bank The grew its holdings in Wells Fargo & Company (NYSE:WFC) by 4.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 127,617 shares of the financial services provider’s stock after buying an additional 5,619 shares during the quarter. Norinchukin Bank The’s holdings in Wells Fargo & Company were worth $4,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Baron Silver Stevens Financial Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $26,000. Bellwether Advisors LLC lifted its stake in shares of Wells Fargo & Company by 172.3% in the 1st quarter. Bellwether Advisors LLC now owns 719 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 455 shares during the period. RMR Wealth Builders purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $30,000. Wealthcare Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the 1st quarter valued at approximately $30,000. Finally, TRU Independence Asset Management 2 LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 69.37% of the company’s stock.

Shares of WFC opened at $45.09 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.84 and a debt-to-equity ratio of 1.10. Wells Fargo & Company has a one year low of $20.76 and a one year high of $48.13. The company has a market capitalization of $186.38 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 1.28 and a beta of 1.36. The business has a fifty day moving average price of $44.71.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, April 13th. The financial services provider reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.36. Wells Fargo & Company had a return on equity of 4.88% and a net margin of 9.42%. The company had revenue of $18.06 billion during the quarter, compared to analyst estimates of $17.42 billion. During the same quarter in the previous year, the company posted $0.01 earnings per share. Wells Fargo & Company’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts anticipate that Wells Fargo & Company will post 3.72 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Investors of record on Friday, May 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, May 6th. Wells Fargo & Company’s payout ratio is currently 72.73%.

A number of research analysts have recently commented on WFC shares. Robert W. Baird raised their target price on Wells Fargo & Company from $41.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, April 15th. Morgan Stanley raised their price objective on Wells Fargo & Company from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Thursday, April 15th. Zacks Investment Research raised Wells Fargo & Company from a “hold” rating to a “strong-buy” rating and set a $49.00 price objective for the company in a research report on Friday, April 16th. Bank of America raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Friday, June 4th. Finally, BMO Capital Markets raised their price objective on Wells Fargo & Company from $40.00 to $43.00 in a research report on Thursday, April 15th. Nine investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.61.

Wells Fargo & Company Profile

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of all middle market companies in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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