Channing Capital Management LLC Has $8.35 Million Stake in Wells Fargo & Company (NYSE:WFC)

Channing Capital Management LLC reduced its stake in shares of Wells Fargo & Company (NYSE:WFC) by 7.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 169,559 shares of the financial services provider’s stock after selling 13,149 shares during the quarter. Channing Capital Management LLC’s holdings in Wells Fargo & Company were worth $8,346,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC grew its holdings in shares of Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after acquiring an additional 54,262 shares in the last quarter. United Services Automobile Association increased its position in Wells Fargo & Company by 13.7% in the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 11,825 shares during the last quarter. Synovus Financial Corp raised its stake in shares of Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after purchasing an additional 46,525 shares in the last quarter. Trust Point Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $2,499,000. Finally, WealthPlan Investment Management LLC grew its stake in shares of Wells Fargo & Company by 2,174.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock valued at $870,000 after buying an additional 20,351 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded up $0.11 during mid-day trading on Friday, hitting $59.94. The company had a trading volume of 17,298,461 shares, compared to its average volume of 19,706,676. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $61.76. The firm has a market cap of $212.21 billion, a P/E ratio of 12.51, a PEG ratio of 1.16 and a beta of 1.18. The business’s 50-day simple moving average is $57.63 and its 200-day simple moving average is $50.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter last year, the company earned $1.23 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Compass Point reaffirmed a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Raymond James upped their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Citigroup restated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research note on Monday, January 8th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.99.

Wells Fargo & Company Profile

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