Wells Fargo & Company (NYSE:WFC) Shares Acquired by E&G Advisors LP

E&G Advisors LP raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,520 shares of the financial services provider’s stock after purchasing an additional 986 shares during the period. E&G Advisors LP’s holdings in Wells Fargo & Company were worth $528,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WFC. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. acquired a new position in Wells Fargo & Company during the third quarter valued at approximately $34,000. Finally, FSA Wealth Management LLC purchased a new stake in Wells Fargo & Company during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. 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 report on Tuesday, October 8th. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their price target for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 0.8 %

Shares of NYSE:WFC opened at $78.14 on Tuesday. The company’s fifty day moving average is $73.59 and its two-hundred day moving average is $64.78. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $79.29. The stock has a market capitalization of $260.17 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.19 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its 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. The company had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 earnings per share. Equities analysts anticipate 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. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.05%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wells Fargo & Company 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.