Wells Fargo & Company (NYSE:WFC) Shares Bought by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 16.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,384 shares of the financial services provider’s stock after purchasing an additional 196 shares during the period. Loomis Sayles & Co. L P’s holdings in Wells Fargo & Company were worth $97,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spinnaker Trust grew its position in Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 130 shares during the last quarter. MONECO Advisors LLC boosted its holdings in Wells Fargo & Company by 1.9% in the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 134 shares during the last quarter. Crown Wealth Group LLC lifted its stake in shares of Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 140 shares during the period. Jacobsen Capital Management boosted its position in shares of Wells Fargo & Company by 2.8% during the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 148 shares in the last quarter. Finally, New Republic Capital LLC boosted its holdings in shares of Wells Fargo & Company by 2.9% in the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after buying an additional 149 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on WFC. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. UBS Group boosted their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Citigroup dropped their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Morgan Stanley set a $79.00 price target on shares of Wells Fargo & Company in a research note on Monday, March 24th. Finally, Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, March 13th. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.55.

Wells Fargo & Company Price Performance

Shares of WFC stock traded down $5.39 during trading hours on Thursday, hitting $66.87. The stock had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. The stock’s 50-day moving average price is $75.50 and its two-hundred day moving average price is $70.43. The stock has a market capitalization of $218.34 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the business posted $0.86 EPS. The business’s revenue was down .5% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.39%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.