St. Louis Financial Planners Asset Management LLC Takes $1.86 Million Position in Wells Fargo & Company (NYSE:WFC)

St. Louis Financial Planners Asset Management LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,413 shares of the financial services provider’s stock, valued at approximately $1,855,000. Wells Fargo & Company comprises approximately 1.3% of St. Louis Financial Planners Asset Management LLC’s holdings, making the stock its 18th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mattson Financial Services LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the second quarter valued at about $26,000. Truvestments Capital LLC acquired a new stake in Wells Fargo & Company during the third quarter worth about $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $30,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company in the 3rd quarter valued at about $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays raised their target price on Wells Fargo & Company from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup raised their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their price objective for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a research note on Monday, October 14th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $69.92.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $75.86 on Thursday. The stock’s fifty day simple moving average is $72.41 and its 200 day simple moving average is $63.15. The stock has a market capitalization of $252.58 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a 52-week low of $46.12 and a 52-week high of $78.13. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

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

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & 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.