Spring Capital Management LLC Invests $290,000 in Wells Fargo & Company (NYSE:WFC)

Spring Capital Management LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,128 shares of the financial services provider's stock, valued at approximately $290,000.

A number of other large investors also recently bought and sold shares of the company. Two Sigma Advisers LP increased its stake in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider's stock worth $336,375,000 after acquiring an additional 5,237,500 shares during the period. Canoe Financial LP acquired a new position in Wells Fargo & Company during the 3rd quarter worth approximately $160,529,000. Marshall Wace LLP raised its stake in shares of Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider's stock worth $138,493,000 after buying an additional 2,404,898 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Wells Fargo & Company by 158.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider's stock worth $153,069,000 after purchasing an additional 1,659,716 shares during the period. Finally, National Pension Service increased its holdings in shares of Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider's stock valued at $383,532,000 after purchasing an additional 897,195 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 1.7 %

WFC traded up $1.27 during midday trading on Friday, hitting $77.22. The company's stock had a trading volume of 20,609,919 shares, compared to its average volume of 12,688,081. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13. The firm has a 50-day moving average price of $72.74 and a two-hundred day moving average price of $63.46. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The firm has a market cap of $257.11 billion, a P/E ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. Wells Fargo & Company's revenue was down .5% compared to the same quarter last year. On average, research analysts anticipate that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. Wells Fargo & Company's payout ratio is 29.74%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WFC. Wolfe Research upgraded shares of Wells Fargo & Company from a "peer perform" rating to an "outperform" rating and set a $65.00 target price on the stock in a research report on Tuesday, October 8th. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Compass Point raised their target price 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. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $73.39.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.