Los Angeles Capital Management LLC Purchases 99,508 Shares of Wells Fargo & Company (NYSE:WFC)

Los Angeles Capital Management LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 64.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 253,298 shares of the financial services provider’s stock after buying an additional 99,508 shares during the period. Los Angeles Capital Management LLC’s holdings in Wells Fargo & Company were worth $12,467,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Arlington Trust Co LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $29,000. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company in the 3rd quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $32,000. Finally, Bfsg LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $34,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WFC shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price target for the company. in a report on Thursday, January 18th. Evercore ISI lifted their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Raymond James increased their target price on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 16th. Fourteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Trading Up 0.2 %

Shares of WFC stock opened at $59.94 on Friday. Wells Fargo & Company has a 12-month low of $36.40 and a 12-month high of $61.76. The firm has a 50 day moving average price of $57.63 and a two-hundred day moving average price of $50.23. 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 company has a market capitalization of $212.21 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) 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 company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts predict that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.