Wells Fargo & Company (NYSE:WFC) Shares Bought by Sound Shore Management Inc CT

Sound Shore Management Inc CT grew its stake in Wells Fargo & Company (NYSE:WFC) by 1.7% during the third quarter, HoldingsChannel.com reports. The firm owned 2,621,225 shares of the financial services provider’s stock after purchasing an additional 44,384 shares during the period. Wells Fargo & Company makes up approximately 4.3% of Sound Shore Management Inc CT’s holdings, making the stock its 2nd biggest holding. Sound Shore Management Inc CT’s holdings in Wells Fargo & Company were worth $105,426,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of WFC. Truvestments Capital LLC acquired a new position in Wells Fargo & Company in the second quarter worth $26,000. Financial Management Professionals Inc. boosted its holdings in shares of Wells Fargo & Company by 66.6% in the 3rd quarter. Financial Management Professionals Inc. now owns 688 shares of the financial services provider’s stock valued at $28,000 after buying an additional 275 shares during the period. Tortoise Investment Management LLC grew its position in shares of Wells Fargo & Company by 100.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 800 shares of the financial services provider’s stock valued at $31,000 after buying an additional 400 shares during the last quarter. Moisand Fitzgerald Tamayo LLC raised its stake in Wells Fargo & Company by 371.3% during the second quarter. Moisand Fitzgerald Tamayo LLC now owns 919 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 724 shares during the period. Finally, Orion Capital Management LLC lifted its holdings in Wells Fargo & Company by 125.0% in the third quarter. Orion Capital Management LLC now owns 900 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 72.24% of the company’s stock.

Wells Fargo & Company Stock Down 0.7 %

WFC opened at $44.13 on Wednesday. Wells Fargo & Company has a one year low of $36.54 and a one year high of $60.30. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84. The stock’s fifty day moving average is $43.60 and its 200-day moving average is $43.69. The company has a market capitalization of $168.16 billion, a PE ratio of 14.16, a P/E/G ratio of 0.91 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFCGet Rating) last posted its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.04. Wells Fargo & Company had a return on equity of 9.28% and a net margin of 15.91%. The company had revenue of $19.66 billion for the quarter, compared to the consensus estimate of $20.04 billion. During the same quarter in the previous year, the business earned $1.38 EPS. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities analysts predict that Wells Fargo & Company will post 4.86 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Friday, February 3rd will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.72%. Wells Fargo & Company’s dividend payout ratio is presently 38.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler cut Wells Fargo & Company from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $49.00 to $47.00 in a research report on Tuesday, January 17th. Deutsche Bank Aktiengesellschaft cut their target price on Wells Fargo & Company from $60.00 to $50.00 in a research note on Friday, January 6th. The Goldman Sachs Group raised shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $48.00 in a report on Monday, October 3rd. Barclays boosted their target price on shares of Wells Fargo & Company from $58.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, January 3rd. Finally, BMO Capital Markets raised their price target on shares of Wells Fargo & Company from $61.00 to $63.00 and gave the company a “market perform” rating in a research note on Monday, October 17th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $52.62.

Wells Fargo & Company Company Profile

(Get Rating)

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

Featured Stories

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFCGet Rating).

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

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.