Resona Asset Management Co. Ltd. Has $86.03 Million Position in Wells Fargo & Company $WFC

Resona Asset Management Co. Ltd. lowered its holdings in Wells Fargo & Company (NYSE:WFC) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,024,772 shares of the financial services provider’s stock after selling 74,616 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Wells Fargo & Company were worth $86,032,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Access Investment Management LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. Marquette Asset Management LLC boosted its stake in Wells Fargo & Company by 472.4% in 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. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company in the second quarter valued at $27,000. Grey Fox Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter valued at $30,000. Finally, Kilter Group LLC acquired a new position in Wells Fargo & Company during the second quarter worth $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WFC shares. Argus boosted their target price on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Bank of America lifted their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Evercore ISI reduced their price target on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Wells Fargo & Company in a report on Thursday, January 15th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $109.00 target price on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Thirteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.87.

Wells Fargo & Company Trading Down 1.2%

WFC opened at $87.00 on Friday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $97.76. The stock has a market capitalization of $273.11 billion, a PE ratio of 13.88, a PEG ratio of 0.95 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $90.33 and a two-hundred day moving average price of $84.97.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) 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%. Wells Fargo & Company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) 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.