Thoroughbred Financial Services LLC Has $3.89 Million Holdings in Wells Fargo & Company (NYSE:WFC)

Thoroughbred Financial Services LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,377 shares of the financial services provider's stock after buying an additional 5,704 shares during the period. Thoroughbred Financial Services LLC's holdings in Wells Fargo & Company were worth $3,889,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Benjamin Edwards Inc. boosted its holdings in Wells Fargo & Company by 320.1% during the third quarter. Benjamin Edwards Inc. now owns 57,459 shares of the financial services provider's stock worth $3,246,000 after buying an additional 43,782 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in shares of Wells Fargo & Company by 46.0% during the 3rd quarter. Hilltop Holdings Inc. now owns 18,376 shares of the financial services provider's stock worth $1,038,000 after acquiring an additional 5,788 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Wells Fargo & Company by 0.3% during the 3rd quarter. Janus Henderson Group PLC now owns 441,872 shares of the financial services provider's stock worth $24,950,000 after acquiring an additional 1,300 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 16.3% in the 3rd quarter. IHT Wealth Management LLC now owns 22,483 shares of the financial services provider's stock worth $1,263,000 after acquiring an additional 3,155 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in shares of Wells Fargo & Company during the third quarter worth $487,000. 75.90% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WFC. Citigroup dropped their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada raised shares of Wells Fargo & Company from a "sector perform" rating to an "outperform" rating and set a $80.00 target price on the stock in a research report on Thursday, March 13th. UBS Group boosted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a "buy" rating in a report on Monday, December 9th. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating on the stock in a research note on Thursday. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average price target of $75.50.

Wells Fargo & Company Stock Down 7.2 %

NYSE WFC traded down $4.76 on Friday, reaching $60.91. The stock had a trading volume of 31,028,896 shares, compared to its average volume of 17,232,166. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The business has a 50 day moving average price of $74.93 and a 200 day moving average price of $70.44. The company has a market capitalization of $198.89 billion, a price-to-earnings ratio of 11.32, a P/E/G ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company's dividend payout ratio is 29.74%.

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.