GeoWealth Management LLC Has $1.57 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

GeoWealth Management LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 23.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,309 shares of the financial services provider's stock after acquiring an additional 4,243 shares during the period. GeoWealth Management LLC's holdings in Wells Fargo & Company were worth $1,567,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Empowered Funds LLC lifted its position in shares of Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider's stock worth $13,369,000 after purchasing an additional 30,510 shares in the last quarter. Valmark Advisers Inc. lifted its position in Wells Fargo & Company by 5.5% during the 4th quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider's stock worth $583,000 after buying an additional 431 shares in the last quarter. NatWest Group plc boosted its stake in shares of Wells Fargo & Company by 57.7% during the 4th quarter. NatWest Group plc now owns 172,484 shares of the financial services provider's stock worth $12,115,000 after buying an additional 63,102 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $1,656,000. Finally, Modera Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 14.1% in the 4th quarter. Modera Wealth Management LLC now owns 20,562 shares of the financial services provider's stock valued at $1,444,000 after acquiring an additional 2,548 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $2.25 during mid-day trading on Wednesday, hitting $68.48. 10,581,033 shares of the company's stock were exchanged, compared to its average volume of 17,476,382. The stock's 50-day simple moving average is $70.67 and its 200-day simple moving average is $71.28. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The firm has a market cap of $223.60 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.15 billion during the quarter, compared to analysts' expectations of $20.82 billion. During the same quarter in the prior year, the business posted $1.20 earnings per share. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.34%. Wells Fargo & Company's payout ratio is 28.73%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WFC. 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 report on Thursday, January 16th. Raymond James dropped their price objective on Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating on the stock in a research note on Monday, April 14th. Bank of America decreased their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Finally, Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $75.34.

Wells Fargo & Company Profile

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.