Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in Wells Fargo & Company $WFC

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.1% during the third quarter, Holdings Channel.com reports. The fund owned 1,395,045 shares of the financial services provider’s stock after selling 44,099 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Wells Fargo & Company were worth $116,933,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Access Investment Management LLC bought a new stake in Wells Fargo & Company during the 2nd quarter valued at approximately $25,000. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company in the 2nd quarter worth approximately $27,000. Marquette Asset Management LLC grew its holdings in Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $30,000. Finally, Kilter Group LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $31,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WFC. Bank of America upped their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday. Freedom Capital downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $94.87.

Wells Fargo & Company Stock Down 1.2%

Shares of WFC opened at $87.00 on Friday. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $90.33 and a 200 day moving average of $84.97. The company has a market cap of $273.11 billion, a PE ratio of 13.88, a P/E/G ratio of 0.95 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. The company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 EPS. On average, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.