Sierra Summit Advisors LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,134 shares of the financial services provider’s stock, valued at approximately $597,000.
Other large investors also recently bought and sold shares of the company. Core Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Tennessee Valley Asset Management Partners purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $29,000. Fortis Group Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter worth approximately $25,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Compass Point restated a “neutral” rating and set a $64.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. The Goldman Sachs Group lifted their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Fourteen 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.99.
View Our Latest Report on Wells Fargo & Company
Wells Fargo & Company Trading Up 0.2 %
Shares of WFC opened at $57.40 on Friday. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. 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 fifty day moving average is $59.38 and its two-hundred day moving average is $54.18. The stock has a market cap of $200.11 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.23 EPS. Research analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.
Wells Fargo & Company Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.44%. Wells Fargo & Company’s payout ratio is 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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Source: defenseworld.net
