Wells Fargo & Company (NYSE:WFC) Shares Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC raised its position in Wells Fargo & Company (NYSE:WFC) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,626 shares of the financial services provider’s stock after acquiring an additional 1,119 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Wells Fargo & Company were worth $4,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Seven Mile Advisory raised its stake in shares of Wells Fargo & Company by 6.9% during the 4th quarter. Seven Mile Advisory now owns 6,636 shares of the financial services provider’s stock worth $466,000 after buying an additional 430 shares during the last quarter. Cannell & Spears LLC boosted its position in Wells Fargo & Company by 4.0% during the 4th quarter. Cannell & Spears LLC now owns 12,272 shares of the financial services provider’s stock worth $862,000 after purchasing an additional 472 shares during the period. Summit Financial LLC grew its stake in shares of Wells Fargo & Company by 5.6% in the fourth quarter. Summit Financial LLC now owns 24,029 shares of the financial services provider’s stock valued at $1,688,000 after buying an additional 1,275 shares in the last quarter. Hoey Investments Inc. grew its position in Wells Fargo & Company by 13.7% in the fourth quarter. Hoey Investments Inc. now owns 163,216 shares of the financial services provider’s stock valued at $11,464,000 after acquiring an additional 19,620 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Wells Fargo & Company by 10.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,531,997 shares of the financial services provider’s stock valued at $107,607,000 after purchasing an additional 140,678 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on WFC. Bank of America lowered their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley set a $79.00 target price on Wells Fargo & Company in a research note on Monday, March 24th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, March 13th. Barclays raised their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating for the company in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $75.55.

Wells Fargo & Company Stock Down 7.5 %

WFC stock traded down $5.39 during midday trading 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 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 52-week low of $50.15 and a 52-week high of $81.50. The business has a 50-day moving average of $75.50 and a two-hundred day moving average of $70.43. The firm has a market cap of $218.34 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & Company 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.