Abel Hall LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,480 shares of the financial services provider’s stock, valued at approximately $516,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Wells Fargo & Company during the fourth quarter worth about $2,623,044,000. Northern Trust Corp lifted its position in Wells Fargo & Company by 0.3% during the third quarter. Northern Trust Corp now owns 38,197,624 shares of the financial services provider’s stock worth $1,560,755,000 after purchasing an additional 129,300 shares during the period. Capital World Investors lifted its position in Wells Fargo & Company by 1.0% during the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after purchasing an additional 263,176 shares during the period. Sanders Capital LLC lifted its position in Wells Fargo & Company by 3.2% during the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after purchasing an additional 781,772 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Wells Fargo & Company by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after purchasing an additional 526,178 shares during the period. 75.90% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts have commented on WFC shares. Morgan Stanley boosted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. HSBC boosted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Evercore ISI boosted their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Argus boosted their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Finally, StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Fourteen equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average price target of $58.99.
Wells Fargo & Company Stock Up 0.2 %
NYSE:WFC traded up $0.13 during trading hours on Friday, hitting $57.40. 15,375,353 shares of the company traded hands, compared to its average volume of 14,025,280. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm’s 50-day simple moving average is $59.38 and its 200-day simple moving average is $54.18. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a market cap of $200.11 billion, a PE ratio of 11.98, a PEG ratio of 1.51 and a beta of 1.17.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same period last year, the business earned $1.23 EPS. The business’s revenue was up .6% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.
Wells Fargo & Company Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.
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.
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