Wells Fargo & Company (NYSE:WFC) is Wilsey Asset Management Inc.’s 10th Largest Position


Share on StockTwits

Wilsey Asset Management Inc. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 496,099 shares of the financial services provider’s stock after selling 5,260 shares during the period. Wells Fargo & Company accounts for 5.5% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 10th biggest position. Wilsey Asset Management Inc.’s holdings in Wells Fargo & Company were worth $19,383,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Dodge & Cox increased its position in Wells Fargo & Company by 13.3% during the fourth quarter. Dodge & Cox now owns 148,429,020 shares of the financial services provider’s stock worth $4,479,588,000 after buying an additional 17,452,785 shares in the last quarter. FMR LLC grew its position in shares of Wells Fargo & Company by 28.7% in the fourth quarter. FMR LLC now owns 133,862,824 shares of the financial services provider’s stock valued at $4,039,980,000 after purchasing an additional 29,812,530 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Wells Fargo & Company by 8.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 106,531,722 shares of the financial services provider’s stock valued at $3,215,092,000 after purchasing an additional 8,301,054 shares during the period. Primecap Management Co. CA grew its position in shares of Wells Fargo & Company by 5.3% in the fourth quarter. Primecap Management Co. CA now owns 48,609,110 shares of the financial services provider’s stock valued at $1,467,023,000 after purchasing an additional 2,460,730 shares during the period. Finally, Sanders Capital LLC grew its position in shares of Wells Fargo & Company by 352.3% in the fourth quarter. Sanders Capital LLC now owns 46,947,095 shares of the financial services provider’s stock valued at $1,523,620,000 after purchasing an additional 36,566,684 shares during the period. 67.25% of the stock is owned by institutional investors.

A number of brokerages have recently commented on WFC. DA Davidson lifted their price objective on Wells Fargo & Company from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, January 19th. Jefferies Financial Group lifted their target price on Wells Fargo & Company from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, April 9th. Zacks Investment Research upgraded Wells Fargo & Company from a “hold” rating to a “strong-buy” rating and set a $49.00 target price on the stock in a report on Friday, April 16th. Argus lifted their target price on Wells Fargo & Company from $37.00 to $47.00 in a report on Thursday, April 15th. Finally, Barclays lifted their target price on Wells Fargo & Company from $42.00 to $46.00 and gave the company an “equal weight” rating in a report on Thursday, April 15th. Nine research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Wells Fargo & Company presently has a consensus rating of “Buy” and a consensus target price of $40.83.

Wells Fargo & Company stock traded up $0.01 during midday trading on Tuesday, hitting $45.49. The stock had a trading volume of 722,490 shares, compared to its average volume of 34,776,301. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.34. The stock has a market cap of $188.06 billion, a P/E ratio of 122.92, a P/E/G ratio of 4.84 and a beta of 1.07. Wells Fargo & Company has a 12 month low of $20.76 and a 12 month high of $46.39. The business has a fifty day moving average price of $41.29 and a 200 day moving average price of $32.85.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, April 13th. The financial services provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.36. The firm had revenue of $18.06 billion during the quarter, compared to analyst estimates of $17.42 billion. Wells Fargo & Company had a return on equity of 3.18% and a net margin of 3.72%. Wells Fargo & Company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 7th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, May 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 9.13%.

About Wells Fargo & Company

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.

Featured Article: Trading signals using Bollinger bands

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC).

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

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.