Diversified LLC Takes $296,000 Position in Wells Fargo & Company (NYSE:WFC)

Diversified LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 6,022 shares of the financial services provider’s stock, valued at approximately $296,000.

Several other hedge funds also recently made changes to their positions in the stock. Telemus Capital LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $222,000. Duality Advisers LP purchased a new position in shares of Wells Fargo & Company in the fourth quarter valued at $5,231,000. MCF Advisors LLC grew its position in shares of Wells Fargo & Company by 18.5% in the fourth quarter. MCF Advisors LLC now owns 11,113 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 1,737 shares in the last quarter. OLD National Bancorp IN grew its position in shares of Wells Fargo & Company by 0.7% in the fourth quarter. OLD National Bancorp IN now owns 538,897 shares of the financial services provider’s stock valued at $26,525,000 after purchasing an additional 4,005 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Wells Fargo & Company during the fourth quarter worth about $582,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. Compass Point restated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Robert W. Baird restated a “neutral” rating and set a $55.00 target price on shares of Wells Fargo & Company in a research report on Monday, January 8th. StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Finally, Barclays boosted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Thirteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Trading Up 1.1 %

Shares of NYSE WFC traded up $0.64 during midday trading on Monday, reaching $60.99. The company had a trading volume of 8,289,368 shares, compared to its average volume of 18,834,137. Wells Fargo & Company has a one year low of $36.40 and a one year high of $61.01. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm’s fifty day moving average price is $55.88 and its 200-day moving average price is $48.96. The stock has a market cap of $215.93 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.23 EPS. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, February 1st. 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.