ProShare Advisors LLC Has $54.47 Million Stock Holdings in Wells Fargo & Company $WFC

ProShare Advisors LLC trimmed its position in shares of Wells Fargo & Company (NYSE:WFC) by 11.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 649,874 shares of the financial services provider’s stock after selling 80,392 shares during the period. ProShare Advisors LLC’s holdings in Wells Fargo & Company were worth $54,472,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Access Investment Management LLC bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $25,000. Marquette Asset Management LLC boosted its position in shares of 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 acquiring an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the third quarter valued at about $30,000. Kilter Group LLC bought a new stake in Wells Fargo & Company in the second quarter valued at about $31,000. Finally, Aventus Investment Advisors Inc. acquired a new position in Wells Fargo & Company in the third quarter worth about $37,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. CICC Research started coverage on Wells Fargo & Company in a research note on Wednesday, January 14th. They issued a “market perform” rating and a $96.00 price objective on the stock. Argus boosted their price target on 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 increased their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of Wells Fargo & Company in a report on Thursday, January 15th. Finally, Freedom Capital lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $94.73 on Tuesday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76. The firm has a market cap of $297.37 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.03 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The business has a fifty day moving average of $91.83 and a 200-day moving average of $85.77.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. The business had revenue of $11.97 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s payout ratio is 28.71%.

Wells Fargo & 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.