Lifeworks Advisors LLC Acquires New Position in Wells Fargo & Company (NYSE:WFC)

Lifeworks Advisors LLC bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,726 shares of the financial services provider's stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $30,000. Decker Retirement Planning Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $35,000. Finally, BankPlus Trust Department purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WFC. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a research note on Thursday, January 16th. Finally, Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.39.

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Wells Fargo & Company Stock Down 2.3 %

Shares of NYSE:WFC traded down $1.64 during trading on Friday, reaching $71.01. The stock had a trading volume of 21,254,105 shares, compared to its average volume of 16,563,040. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The company has a market capitalization of $233.50 billion, a P/E ratio of 13.20, a PEG ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm's 50-day simple moving average is $76.10 and its 200 day simple moving average is $68.59.

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

Wells Fargo & Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is currently 29.74%.

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.