59,273 Shares in Wells Fargo & Company (NYSE:WFC) Bought by HighPoint Advisor Group LLC

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HighPoint Advisor Group LLC bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,273 shares of the financial services provider's stock, valued at approximately $2,917,000.

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Other hedge funds also recently modified their holdings of the company. Johnson Investment Counsel Inc. grew its holdings in shares of Wells Fargo & Company by 29.2% in the third quarter. Johnson Investment Counsel Inc. now owns 19,698 shares of the financial services provider's stock valued at $805,000 after acquiring an additional 4,446 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in Wells Fargo & Company during the third quarter worth about $10,751,000. Envestnet Portfolio Solutions Inc. bought a new stake in Wells Fargo & Company in the third quarter worth about $6,345,000. Clearstead Advisors LLC boosted its stake in Wells Fargo & Company by 1.4% in the third quarter. Clearstead Advisors LLC now owns 50,223 shares of the financial services provider's stock valued at $2,052,000 after acquiring an additional 683 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $1,925,000. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WFC. JPMorgan Chase & Co. upped their price target on Wells Fargo & Company from $59.00 to $61.50 and gave the company a "neutral" rating in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Jefferies Financial Group boosted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a "hold" rating in a research report on Monday, April 8th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, April 1st. Finally, Oppenheimer reissued a "market perform" rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Hold" and an average target price of $58.99.

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Wells Fargo & Company Price Performance

NYSE:WFC traded up $0.81 during midday trading on Tuesday, hitting $59.05. The company had a trading volume of 15,028,190 shares, compared to its average volume of 18,022,488. The company has a market capitalization of $205.87 billion, a PE ratio of 12.29, a P/E/G ratio of 1.49 and a beta of 1.17. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The stock's fifty day moving average price is $59.39 and its 200-day moving average price is $54.35.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts' expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. As a group, research analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.23%.

Wells Fargo & Company Company Profile

(Free Report)

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.

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