WealthPLAN Partners LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

WealthPLAN Partners LLC bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,184 shares of the financial services provider's stock, valued at approximately $224,000.

Other hedge funds also recently bought and sold shares of the company. Jacobsen Capital Management grew its stake in shares of Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider's stock valued at $381,000 after buying an additional 148 shares in the last quarter. New Republic Capital LLC increased its stake in shares of Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider's stock worth $369,000 after purchasing an additional 149 shares during the last quarter. Quad Cities Investment Group LLC raised its holdings in shares of Wells Fargo & Company by 0.3% during the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider's stock valued at $3,693,000 after purchasing an additional 158 shares in the last quarter. Investors Research Corp raised its holdings in shares of Wells Fargo & Company by 1.2% during the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider's stock valued at $760,000 after purchasing an additional 160 shares in the last quarter. Finally, Income Research & Management acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $211,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded down $0.40 during trading hours on Wednesday, hitting $80.38. The stock had a trading volume of 13,905,025 shares, compared to its average volume of 15,185,521. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a market cap of $267.63 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18. The company has a 50-day moving average of $74.72 and a two-hundred day moving average of $66.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business's revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company's payout ratio is 29.74%.

Wall Street Analyst Weigh In

Several equities analysts have commented on WFC shares. Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday, January 16th. Barclays increased their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, January 16th. Compass Point raised their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of "Hold" and a consensus price target of $73.39.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.