North Reef Capital Management LP Acquires 1,255,000 Shares of Wells Fargo & Company (NYSE:WFC)

North Reef Capital Management LP raised its holdings in Wells Fargo & Company (NYSE:WFC) by 144.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,125,000 shares of the financial services provider's stock after buying an additional 1,255,000 shares during the quarter. Wells Fargo & Company comprises 6.7% of North Reef Capital Management LP's holdings, making the stock its 5th largest position. North Reef Capital Management LP owned 0.06% of Wells Fargo & Company worth $149,260,000 as of its most recent SEC filing.

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

Wells Fargo & Company Stock Performance

WFC opened at $69.48 on Friday. The firm's fifty day simple moving average is $70.23 and its two-hundred day simple moving average is $71.34. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company has a market cap of $226.86 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.18 and a beta of 1.02. 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 posted its quarterly earnings data on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. During the same period in the previous year, the firm posted $1.20 EPS. Wells Fargo & Company's revenue was down 3.4% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's payout ratio is 28.73%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WFC shares. 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 report on Thursday, January 16th. 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 report on Wednesday, April 2nd. Phillip Securities raised Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Royal Bank of Canada raised Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Thursday, March 13th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently 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.

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