6,272 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Austin Private Wealth LLC

Austin Private Wealth LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 6,272 shares of the financial services provider’s stock, valued at approximately $441,000.

Several other hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Wells Fargo & Company during the 2nd quarter worth $26,000. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company in the second quarter worth $25,000. Abacus Planning Group Inc. boosted its holdings in Wells Fargo & Company by 14.4% in the third quarter. Abacus Planning Group Inc. now owns 5,073 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 640 shares in the last quarter. Czech National Bank increased 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 worth $39,169,000 after buying an additional 28,976 shares during the last quarter. Finally, Farmers Trust Co. raised its holdings in Wells Fargo & Company by 2.6% during the third quarter. Farmers Trust Co. now owns 11,963 shares of the financial services provider’s stock valued at $676,000 after buying an additional 300 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 0.0 %

NYSE WFC opened at $78.81 on Friday. Wells Fargo & Company has a 12 month low of $47.45 and a 12 month high of $79.29. The stock has a 50-day simple moving average of $73.53 and a 200 day simple moving average of $64.58. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $262.40 billion, a PE ratio of 14.65, a P/E/G ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the company posted $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. UBS Group increased their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Tuesday, October 8th. Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $73.39.

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.