Gamco Investors INC. ET AL Trims Holdings in Wells Fargo & Company (NYSE:WFC)

Gamco Investors INC. ET AL lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 4.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 935,961 shares of the financial services provider’s stock after selling 39,840 shares during the period. Gamco Investors INC. ET AL’s holdings in Wells Fargo & Company were worth $46,068,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter worth $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. raised its position in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the 4th quarter worth $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded up $0.17 during trading hours on Thursday, reaching $57.47. The stock had a trading volume of 10,114,567 shares, compared to its average volume of 18,013,346. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm has a 50-day simple moving average of $59.37 and a 200-day simple moving average of $53.98. The firm has a market capitalization of $200.36 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.53 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the company earned $1.23 EPS. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WFC shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Citigroup reiterated a “neutral” rating and issued a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, Jefferies Financial Group lifted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.99.

Read Our Latest Analysis on WFC

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

Further Reading

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

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