TBH Global Asset Management LLC Acquires Shares of 5,360 Wells Fargo & Company (NYSE:WFC)

TBH Global Asset Management LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,360 shares of the financial services provider’s stock, valued at approximately $264,000.

Other institutional investors also recently made changes to their positions in the company. Fortis Group Advisors LLC acquired a new position in Wells Fargo & Company in the third quarter worth about $25,000. Arlington Trust Co LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in shares of Wells Fargo & Company by 208.0% in the 4th 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. Tennessee Valley Asset Management Partners bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock traded up $0.53 during trading on Friday, hitting $60.21. The company had a trading volume of 9,913,040 shares, compared to its average volume of 16,097,602. The business has a 50 day moving average of $59.03 and a 200 day moving average of $52.40. The firm has a market capitalization of $209.91 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 1.57 and a beta of 1.18. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Thursday, May 9th. Wells Fargo & Company’s payout ratio is currently 29.23%.

Analysts Set New Price Targets

A number of equities analysts have commented on WFC shares. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Jefferies Financial Group lifted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. Citigroup reiterated a “neutral” rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Argus lifted their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.99.

About Wells Fargo & Company

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.