Paragon Capital Management Ltd Makes New $229,000 Investment in Wells Fargo & Company (NYSE:WFC)

Paragon Capital Management Ltd purchased a new position in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,256 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other hedge funds have also modified their holdings of WFC. WINTON GROUP Ltd bought a new position in shares of Wells Fargo & Company in the second quarter worth approximately $225,000. Edgestream Partners L.P. bought a new position in shares of Wells Fargo & Company in the second quarter worth approximately $272,000. E Fund Management Co. Ltd. boosted its position in shares of Wells Fargo & Company by 9.7% in the second quarter. E Fund Management Co. Ltd. now owns 21,947 shares of the financial services provider’s stock worth $1,303,000 after purchasing an additional 1,944 shares during the period. Meridian Wealth Partners LLC lifted its holdings in shares of Wells Fargo & Company by 0.6% in the second quarter. Meridian Wealth Partners LLC now owns 42,449 shares of the financial services provider’s stock worth $2,521,000 after buying an additional 274 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of Wells Fargo & Company by 16.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 607,195 shares of the financial services provider’s stock worth $34,546,000 after buying an additional 86,777 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 6.6 %

NYSE WFC opened at $75.86 on Thursday. The company’s 50-day moving average price is $72.41 and its 200-day moving average price is $63.15. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. The stock has a market cap of $252.58 billion, a PE ratio of 15.77, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WFC shares. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a report on Tuesday, October 8th. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $61.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, December 3rd. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Barclays boosted their target price on shares of Wells Fargo & Company from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

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.