Hutchinson Capital Management CA Cuts Stock Position in Wells Fargo & Company (NYSE:WFC)

Hutchinson Capital Management CA decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,511 shares of the financial services provider’s stock after selling 1,974 shares during the quarter. Wells Fargo & Company makes up 1.3% of Hutchinson Capital Management CA’s investment portfolio, making the stock its 27th biggest holding. Hutchinson Capital Management CA’s holdings in Wells Fargo & Company were worth $6,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of WFC. Two Sigma Advisers LP increased its holdings in Wells Fargo & Company by 730.4% during the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after purchasing an additional 1,659,716 shares during the period. Artemis Investment Management LLP increased its holdings in Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after purchasing an additional 1,105,679 shares during the period. Public Sector Pension Investment Board increased its holdings in Wells Fargo & Company by 81.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,981,130 shares of the financial services provider’s stock worth $111,914,000 after purchasing an additional 889,953 shares during the period. Finally, KBC Group NV increased its holdings in Wells Fargo & Company by 63.1% during the 4th quarter. KBC Group NV now owns 1,962,302 shares of the financial services provider’s stock worth $137,832,000 after purchasing an additional 758,893 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WFC. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a report on Thursday. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Citigroup upped their price objective on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, 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 research report on Monday, December 9th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $74.39.

Wells Fargo & Company Stock Up 3.6 %

Wells Fargo & Company stock opened at $70.96 on Friday. Wells Fargo & Company has a twelve month low of $50.15 and a twelve month high of $81.50. The stock has a 50 day moving average of $75.89 and a two-hundred day moving average of $68.93. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $233.31 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wells Fargo & Company 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.