Abel Hall LLC Makes New $516,000 Investment in Wells Fargo & Company (NYSE:WFC)

Abel Hall LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) 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) 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.