Abner Herrman & Brock LLC Buys 143,174 Shares of Wells Fargo & Company (NYSE:WFC)

Abner Herrman & Brock LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 102.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 283,124 shares of the financial services provider's stock after purchasing an additional 143,174 shares during the quarter. Wells Fargo & Company accounts for 2.5% of Abner Herrman & Brock LLC's holdings, making the stock its 17th biggest holding. Abner Herrman & Brock LLC's holdings in Wells Fargo & Company were worth $19,887,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Czech National Bank boosted its position in Wells Fargo & Company by 4.4% during the third quarter. Czech National Bank now owns 693,384 shares of the financial services provider's stock valued at $39,169,000 after acquiring an additional 28,976 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Wells Fargo & Company by 15.3% in the 3rd quarter. GAMMA Investing LLC now owns 37,479 shares of the financial services provider's stock worth $2,117,000 after acquiring an additional 4,985 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Wells Fargo & Company by 10.4% in the 3rd quarter. Diversified Trust Co now owns 24,335 shares of the financial services provider's stock worth $1,375,000 after acquiring an additional 2,294 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in shares of Wells Fargo & Company by 4.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 21,185 shares of the financial services provider's stock worth $1,197,000 after acquiring an additional 824 shares during the last quarter. Finally, KWB Wealth acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $496,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WFC shares. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a "neutral" rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a "market perform" rating in a report on Thursday, January 16th. UBS Group upped their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. Morgan Stanley upped 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, January 16th. Finally, Evercore ISI upped their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of "Hold" and an average target price of $73.39.

Wells Fargo & Company Trading Up 1.5 %

NYSE WFC traded up $1.16 during trading on Thursday, hitting $81.21. 4,943,327 shares of the company's stock traded hands, compared to its average volume of 14,588,739. The stock has a fifty day moving average of $73.72 and a two-hundred day moving average of $65.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $81.30. The firm has a market cap of $270.39 billion, a P/E ratio of 15.10, a PEG ratio of 1.19 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company's quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is 29.74%.

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.