Quinn Opportunity Partners LLC Buys Shares of 57,471 Wells Fargo & Company (NYSE:WFC)

Quinn Opportunity 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 disclosure with the Securities and Exchange Commission (SEC). The fund bought 57,471 shares of the financial services provider's stock, valued at approximately $4,037,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sunbelt Securities Inc. increased its position in Wells Fargo & Company by 4.5% during the third quarter. Sunbelt Securities Inc. now owns 23,830 shares of the financial services provider's stock worth $1,346,000 after buying an additional 1,027 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Wells Fargo & Company by 1.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 30,826 shares of the financial services provider's stock worth $1,747,000 after acquiring an additional 521 shares during the period. Morse Asset Management Inc acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $487,000. Tudor Financial Inc. bought a new stake in Wells Fargo & Company in the 3rd quarter valued at $468,000. Finally, Anchor Investment Management LLC lifted its holdings in Wells Fargo & Company by 5.5% during the 3rd quarter. Anchor Investment Management LLC now owns 15,903 shares of the financial services provider's stock valued at $898,000 after purchasing an additional 836 shares during the last quarter. Institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WFC. Bank of America dropped their price objective on shares of Wells Fargo & Company from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Citigroup lowered their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. reduced 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. Raymond James lowered their target price 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. Finally, Barclays decreased their price objective on Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating on the stock in a report on Monday. Eight investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Moderate Buy" and an average target price of $74.88.

Wells Fargo & Company Price Performance

Shares of WFC traded up $1.83 during midday trading on Tuesday, hitting $64.93. The company's stock had a trading volume of 9,331,390 shares, compared to its average volume of 17,606,971. 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 has a one year low of $50.15 and a one year high of $81.50. The stock has a market capitalization of $212.01 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company's fifty day simple moving average is $72.49 and its two-hundred day simple moving average is $71.02.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.16. The firm had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.46%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's payout ratio is 28.73%.

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.