Sanders Capital LLC lifted its holdings in Wells Fargo & Co (NYSE:WFC) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,820,838 shares of the financial services provider’s stock after buying an additional 180,608 shares during the period. Wells Fargo & Co comprises approximately 4.1% of Sanders Capital LLC’s portfolio, making the stock its 6th biggest position. Sanders Capital LLC owned about 0.32% of Wells Fargo & Co worth $808,166,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Mercer Capital Advisers Inc. boosted its position in Wells Fargo & Co by 81.3% during the fourth quarter. Mercer Capital Advisers Inc. now owns 1,171 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 525 shares during the last quarter. JJJ Advisors Inc. acquired a new stake in Wells Fargo & Co during the fourth quarter valued at $102,000. Sageworth Trust Co boosted its position in Wells Fargo & Co by 257.9% during the third quarter. Sageworth Trust Co now owns 2,151 shares of the financial services provider’s stock valued at $113,000 after purchasing an additional 1,550 shares during the last quarter. Lee Financial Co boosted its position in Wells Fargo & Co by 433.4% during the third quarter. Lee Financial Co now owns 2,507 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 2,037 shares during the last quarter. Finally, Almanack Investment Partners LLC. acquired a new stake in Wells Fargo & Co during the third quarter valued at $141,000. 72.92% of the stock is owned by institutional investors and hedge funds.
NYSE WFC opened at $47.65 on Friday. Wells Fargo & Co has a fifty-two week low of $43.02 and a fifty-two week high of $61.26. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market cap of $232.42 billion, a price-to-earnings ratio of 10.88, a P/E/G ratio of 0.89 and a beta of 1.11.
Wells Fargo & Co (NYSE:WFC) last posted its earnings results on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.04. Wells Fargo & Co had a return on equity of 13.34% and a net margin of 22.95%. The company had revenue of $20.98 billion for the quarter, compared to analyst estimates of $21.80 billion. During the same period last year, the company earned $1.16 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Co will post 4.96 earnings per share for the current fiscal year.
Wells Fargo & Co declared that its board has authorized a stock buyback plan on Tuesday, October 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be issued a dividend of $0.45 per share. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, January 31st. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.10%.
A number of analysts recently issued reports on the company. Citigroup raised Wells Fargo & Co from a “neutral” rating to a “buy” rating in a research report on Friday, November 2nd. BMO Capital Markets lifted their price objective on Wells Fargo & Co to $65.00 and gave the company a “market perform” rating in a research report on Monday, October 15th. ValuEngine raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a research report on Tuesday, October 16th. Nomura reduced their price objective on Wells Fargo & Co from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, October 15th. Finally, Macquarie raised Wells Fargo & Co from a “neutral” rating to an “outperform” rating in a research report on Monday, October 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. Wells Fargo & Co has a consensus rating of “Hold” and an average price target of $61.33.
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About Wells Fargo & Co
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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