Pathstone Holdings LLC Has $25.93 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Pathstone Holdings LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 369,024 shares of the financial services provider’s stock after acquiring an additional 13,782 shares during the period. Pathstone Holdings LLC’s holdings in Wells Fargo & Company were worth $25,933,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $3,365,658,000. Northern Trust Corp raised its position in shares of Wells Fargo & Company by 10.7% in the fourth quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider’s stock valued at $2,411,992,000 after buying an additional 3,307,855 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Wells Fargo & Company by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock valued at $1,430,742,000 after buying an additional 238,131 shares in the last quarter. Capital Research Global Investors raised its position in shares of Wells Fargo & Company by 932.0% in the fourth quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider’s stock valued at $1,105,218,000 after buying an additional 14,210,193 shares in the last quarter. Finally, Capital World Investors raised its position in shares of Wells Fargo & Company by 0.4% in the fourth quarter. Capital World Investors now owns 13,914,098 shares of the financial services provider’s stock valued at $977,338,000 after buying an additional 62,099 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WFC shares. Keefe, Bruyette & Woods lifted their price target 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. Bank of America dropped their price target on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Raymond James dropped their price target on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating for the company in a research note on Monday, April 14th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. dropped their price target on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.34.

Wells Fargo & Company Stock Up 0.2%

Shares of NYSE WFC opened at $76.17 on Thursday. 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 company has a market cap of $247.87 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.18 and a beta of 1.13. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The stock has a 50-day moving average price of $69.24 and a two-hundred day moving average price of $72.35.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.23 by $0.16. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.20 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Stockholders of record on Friday, May 9th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.73%.

Wells Fargo & Company declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 17.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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.