Empirical Asset Management LLC Grows Position in Wells Fargo & Company (NYSE:WFC)

Empirical Asset Management LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 229.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,652 shares of the financial services provider’s stock after acquiring an additional 43,650 shares during the quarter. Empirical Asset Management LLC’s holdings in Wells Fargo & Company were worth $4,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Quad Cities Investment Group LLC lifted its position in shares of Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after purchasing an additional 158 shares in the last quarter. Investors Research Corp increased its stake in Wells Fargo & Company by 1.2% in the 3rd quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after buying an additional 160 shares during the last quarter. Ellenbecker Investment Group lifted its position in shares of Wells Fargo & Company by 3.9% during the 3rd quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after buying an additional 164 shares in the last quarter. Income Research & Management purchased a new position in shares of Wells Fargo & Company in the 3rd quarter worth approximately $211,000. Finally, Modera Wealth Management LLC grew its holdings in shares of Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 167 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on WFC shares. Compass Point lifted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Citigroup lifted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Evercore ISI raised their price objective 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. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Morgan Stanley raised their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $72.17.

Wells Fargo & Company Stock Down 0.0 %

WFC opened at $75.94 on Friday. The firm has a market capitalization of $252.85 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The company has a fifty day moving average price of $72.47 and a 200-day moving average price of $63.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same period last year, the firm posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts expect 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 announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were given a $0.40 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. Wells Fargo & Company’s payout ratio is 33.26%.

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.