Wells Fargo & Company (NYSE:WFC) is Weik Capital Management’s 9th Largest Position

Weik Capital Management cut its position in Wells Fargo & Company (NYSE:WFC) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 74,118 shares of the financial services provider’s stock after selling 555 shares during the quarter. Wells Fargo & Company accounts for about 2.1% of Weik Capital Management’s holdings, making the stock its 9th largest holding. Weik Capital Management’s holdings in Wells Fargo & Company were worth $5,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of WFC. Rialto Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Truvestments Capital LLC bought a new stake in shares of Wells Fargo & Company during the 3rd quarter valued at about $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. bought a new position in shares of Wells Fargo & Company in the fourth quarter worth approximately $30,000. Finally, Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% in the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $72.33 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock has a market capitalization of $236.17 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The stock’s 50 day moving average price is $75.97 and its 200-day moving average price is $69.80.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.21%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Barclays increased their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Citigroup lowered their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.