9258 Wealth Management LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,972 shares of the financial services provider’s stock after acquiring an additional 516 shares during the period. 9258 Wealth Management LLC’s holdings in Wells Fargo & Company were worth $638,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. First Financial Corp IN grew its holdings in Wells Fargo & Company by 4.9% during the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 214 shares in the last quarter. CX Institutional raised its holdings in shares of Wells Fargo & Company by 1.1% in the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 217 shares in the last quarter. ERTS Wealth Advisors LLC increased its position in shares of Wells Fargo & Company by 3.5% in the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 228 shares in the last quarter. Prio Wealth Limited Partnership increased its position in shares of Wells Fargo & Company by 1.7% in the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 233 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Wells Fargo & Company by 19.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the stock. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, HSBC increased their price target on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $58.99.
Check Out Our Latest Research Report on WFC
Wells Fargo & Company Price Performance
NYSE:WFC opened at $59.92 on Monday. The company has a 50-day moving average of $59.24 and a 200-day moving average of $53.19. The company has a market capitalization of $208.90 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.58 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.23 EPS. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Investors of record on Friday, May 10th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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
