Congress Park Capital LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 29,760 shares of the financial services provider's stock, valued at approximately $2,090,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the second quarter valued at $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at about $29,000. Modus Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth about $30,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Wells Fargo & Company during the third quarter worth about $34,000. Institutional investors and hedge funds own 75.90% of the company's stock.
Wall Street Analyst Weigh In
WFC has been the subject of several analyst reports. Wolfe Research raised Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 price objective for the company in a research note on Tuesday, October 8th. Compass Point upped their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a research report on Thursday. Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $72.17.
Get Our Latest Stock Report on WFC
Wells Fargo & Company Price Performance
Shares of Wells Fargo & Company stock traded up $1.27 during trading on Friday, hitting $77.22. 20,609,919 shares of the company were exchanged, compared to its average volume of 16,990,602. Wells Fargo & Company has a fifty-two week low of $46.12 and a fifty-two week high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a 50 day moving average price of $72.60 and a 200 day moving average price of $63.33. The stock has a market capitalization of $257.11 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 1.39 and a beta of 1.18.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The business's revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. On average, equities analysts expect that Wells Fargo & Company will post 5.45 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 33.26%.
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.
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