Wells Fargo & Company (NYSE:WFC) Shares Bought by Brighton Jones LLC

Brighton Jones LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 5.5% during the fourth quarter, Holdings Channel reports. The firm owned 35,672 shares of the financial services provider’s stock after purchasing an additional 1,863 shares during the period. Brighton Jones LLC’s holdings in Wells Fargo & Company were worth $1,756,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Panagora Asset Management Inc. lifted its holdings in shares of Wells Fargo & Company by 131.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 3,453,854 shares of the financial services provider’s stock valued at $141,124,000 after acquiring an additional 1,958,483 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Wells Fargo & Company by 42.7% during the 4th quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after acquiring an additional 1,729,132 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Wells Fargo & Company by 87.8% during the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock valued at $163,160,000 after acquiring an additional 1,549,979 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the 3rd quarter valued at $54,894,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Wells Fargo & Company by 37.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,260,350 shares of the financial services provider’s stock valued at $174,078,000 after acquiring an additional 1,166,000 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $59.28 on Wednesday. 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 1-year low of $36.40 and a 1-year high of $61.76. The company has a 50-day moving average of $57.24 and a 200-day moving average of $49.97. The company has a market capitalization of $209.87 billion, a P/E ratio of 12.38, a PEG ratio of 1.16 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.36%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup reiterated a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Robert W. Baird reiterated a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Jefferies Financial Group boosted their price objective on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Thirteen equities research 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.85.

Wells Fargo & Company Company Profile

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.