Symmetry Investments LP Reduces Stake in Wells Fargo & Company (NYSE:WFC)

Symmetry Investments LP reduced its position in Wells Fargo & Company (NYSE:WFCFree Report) by 66.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,516 shares of the financial services provider’s stock after selling 20,465 shares during the period. Symmetry Investments LP’s holdings in Wells Fargo & Company were worth $518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of WFC. United Services Automobile Association lifted its position in Wells Fargo & Company by 13.7% during the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock valued at $4,000,000 after purchasing an additional 11,825 shares in the last quarter. Synovus Financial Corp lifted its position in Wells Fargo & Company by 61.7% during the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after purchasing an additional 46,525 shares in the last quarter. Trust Point Inc. purchased a new position in Wells Fargo & Company during the fourth quarter valued at $2,499,000. G2 Capital Management LLC OH purchased a new position in Wells Fargo & Company during the fourth quarter valued at $278,000. Finally, North Reef Capital Management LP lifted its position in Wells Fargo & Company by 40.2% during the third quarter. North Reef Capital Management LP now owns 2,300,000 shares of the financial services provider’s stock valued at $93,978,000 after purchasing an additional 660,000 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on WFC shares. Jefferies Financial Group lifted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Evercore ISI raised their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Citigroup reissued a “neutral” rating and set a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. HSBC raised their price target on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, Compass Point reissued a “neutral” rating and set a $64.00 price target on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $58.99.

View Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Trading Down 1.4 %

Shares of NYSE WFC opened at $57.14 on Tuesday. The business’s 50 day moving average is $59.37 and its two-hundred day moving average is $53.86. 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 1-year low of $38.38 and a 1-year high of $62.55. The stock has a market capitalization of $199.21 billion, a P/E ratio of 12.02, a PEG ratio of 1.54 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, research analysts expect that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.45%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wells Fargo & 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

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

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