Check Capital Management Inc. CA Lowers Stock Position in Wells Fargo & Company (NYSE:WFC)

Check Capital Management Inc. CA decreased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 31.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,863 shares of the financial services provider’s stock after selling 3,106 shares during the period. Check Capital Management Inc. CA’s holdings in Wells Fargo & Company were worth $338,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Resonant Capital Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth about $203,000. Cutler Investment Counsel LLC boosted its stake in shares of Wells Fargo & Company by 10.1% during the 4th quarter. Cutler Investment Counsel LLC now owns 8,961 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 825 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its holdings in shares of Wells Fargo & Company by 8.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 208,965 shares of the financial services provider’s stock worth $10,285,000 after acquiring an additional 16,934 shares during the period. Davidson Trust Co. increased its stake in Wells Fargo & Company by 3.4% in the 4th quarter. Davidson Trust Co. now owns 23,785 shares of the financial services provider’s stock valued at $1,171,000 after purchasing an additional 772 shares in the last quarter. Finally, HTLF Bank acquired a new position in Wells Fargo & Company during the fourth quarter worth $2,278,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on WFC. Argus upped their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday. Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Raymond James upped their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Finally, Jefferies Financial Group lifted their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Thirteen investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Trading Up 2.7 %

WFC stock traded up $1.61 on Friday, hitting $60.36. 34,331,115 shares of the company were exchanged, compared to its average volume of 18,978,080. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $213.68 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $60.85. The business’s fifty day moving average is $55.63 and its two-hundred day moving average is $48.68.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the firm posted $1.23 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.04 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wells Fargo & Company Company Profile

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.