Tranquility Partners LLC Purchases Shares of 7,374 Wells Fargo & Company $WFC

Tranquility Partners LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 7,374 shares of the financial services provider’s stock, valued at approximately $618,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Brighton Jones LLC increased its stake in shares of Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Wells Fargo & Company by 0.9% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 28,810 shares of the financial services provider’s stock worth $2,308,000 after acquiring an additional 270 shares during the last quarter. KFG Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $330,000. CRA Financial Services LLC raised its holdings in shares of Wells Fargo & Company by 13.5% in the 2nd quarter. CRA Financial Services LLC now owns 4,402 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 523 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in shares of Wells Fargo & Company by 10.6% in the 2nd quarter. AdvisorNet Financial Inc now owns 16,635 shares of the financial services provider’s stock valued at $1,333,000 after purchasing an additional 1,598 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 2.0%

WFC opened at $86.65 on Wednesday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76. The business has a 50 day moving average price of $90.22 and a two-hundred day moving average price of $84.91. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. The company has a market cap of $271.99 billion, a PE ratio of 13.82, a P/E/G ratio of 0.82 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.10. The firm had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

Key Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

Wall Street Analyst Weigh In

Several equities analysts recently commented on WFC shares. Evercore ISI dropped their target price on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. TD Cowen dropped their price objective on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. CICC Research initiated coverage on Wells Fargo & Company in a research report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 target price on the stock. UBS Group decreased their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $109.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Thirteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $94.87.

Read Our Latest Report on Wells Fargo & Company

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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