Grove Street Fiduciary LLC Purchases Shares of 3,766 Wells Fargo & Company (NYSE:WFC)

Grove Street Fiduciary LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,766 shares of the financial services provider's stock, valued at approximately $265,000.

A number of other institutional investors also recently modified their holdings of the stock. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $35,000. Finally, Truvestments Capital LLC bought a new position in Wells Fargo & Company in the third quarter worth approximately $29,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wells Fargo & Company Trading Down 2.1 %

Shares of Wells Fargo & Company stock opened at $78.69 on Friday. The firm has a market cap of $262.00 billion, a PE ratio of 14.63, a P/E/G ratio of 1.20 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a fifty day moving average price of $75.06 and a 200-day moving average price of $66.73.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm's quarterly revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. Wells Fargo & Company's payout ratio is currently 29.74%.

Analysts Set New Price Targets

Several research firms have recently commented on WFC. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a "market perform" rating in a report on Thursday, January 16th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, January 16th. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a report on Monday, December 9th. Compass Point lifted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Finally, Evercore ISI boosted their target price 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. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company 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.

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