Wells Fargo & Company (NYSE:WFC) Shares Acquired by HF Advisory Group LLC

HF Advisory Group LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,093 shares of the financial services provider’s stock after purchasing an additional 1,417 shares during the quarter. Wells Fargo & Company comprises about 1.1% of HF Advisory Group LLC’s investment portfolio, making the stock its 29th largest position. HF Advisory Group LLC’s holdings in Wells Fargo & Company were worth $1,678,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at about $25,000. Arlington Trust Co LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. boosted its stake in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the last quarter. Studio Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company during the 1st quarter worth about $28,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WFC. HSBC increased their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, March 28th. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Evercore ISI raised their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Finally, Barclays raised their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $1.01 during trading hours on Thursday, reaching $58.19. The company’s stock had a trading volume of 3,400,509 shares, compared to its average volume of 18,479,596. The company’s 50 day simple moving average is $55.42 and its 200 day simple moving average is $48.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a one year low of $36.40 and a one year high of $58.44. The stock has a market cap of $206.02 billion, a P/E ratio of 11.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the company earned $1.23 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts expect that Wells Fargo & Company will post 5.04 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $1.40 annualized dividend and a yield of 2.41%. Wells Fargo & Company’s payout ratio is 29.23%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.