Webster Bank N. A. Has $490,000 Stake in Wells Fargo & Company (NYSE:WFC)

Webster Bank N. A. grew its position in Wells Fargo & Company (NYSE:WFC) by 7.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,951 shares of the financial services provider’s stock after buying an additional 676 shares during the quarter. Webster Bank N. A.’s holdings in Wells Fargo & Company were worth $490,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter valued at $25,000. Leith Wheeler Investment Counsel Ltd. raised its stake in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Studio Investment Management LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter worth about $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the first quarter worth about $28,000. Finally, Baystate Wealth Management LLC increased its position in Wells Fargo & Company by 53.0% during the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 278 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on WFC shares. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a research note on Thursday, January 18th. Evercore ISI upped their target price on Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Raymond James increased their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. The Goldman Sachs Group boosted their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday. Finally, Citigroup reiterated a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.68.

Get Our Latest Stock Analysis on WFC

Wells Fargo & Company Stock Performance

WFC stock opened at $57.36 on Wednesday. The firm has a market cap of $203.08 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.20 and a beta of 1.19. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average price of $53.77 and a 200-day moving average price of $47.47. Wells Fargo & Company has a 1-year low of $36.27 and a 1-year high of $58.44.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. During the same quarter in the previous year, the firm earned $0.67 EPS. The firm’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 4.72 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.44%. Wells Fargo & Company’s dividend payout ratio is presently 29.05%.

About Wells Fargo & Company

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFCFree Report).

Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.