Slagle Financial LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 97.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,594 shares of the financial services provider's stock after buying an additional 68,356 shares during the quarter. Wells Fargo & Company comprises 0.8% of Slagle Financial LLC's portfolio, making the stock its 14th biggest position. Slagle Financial LLC's holdings in Wells Fargo & Company were worth $6,822,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of WFC. DekaBank Deutsche Girozentrale lifted its holdings in shares of Wells Fargo & Company by 12.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,445,294 shares of the financial services provider's stock valued at $59,170,000 after purchasing an additional 164,769 shares in the last quarter. Johnson Investment Counsel Inc. lifted its stake in Wells Fargo & Company by 29.2% in the 3rd 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. WCG Wealth Advisors LLC lifted its stake in Wells Fargo & Company by 4.9% in the 3rd quarter. WCG Wealth Advisors LLC now owns 53,304 shares of the financial services provider's stock valued at $2,292,000 after acquiring an additional 2,466 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $10,751,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Wells Fargo & Company in the 3rd quarter valued at approximately $6,345,000. Institutional investors own 75.90% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the company an "overweight" rating in a research note on Monday, April 15th. The Goldman Sachs Group boosted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Jefferies Financial Group boosted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the company a "hold" rating in a research note on Monday, April 8th. Citigroup reiterated a "neutral" rating and set a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Fourteen investment 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, the company currently has an average rating of "Hold" and a consensus price target of $58.99.
Get Our Latest Report on Wells Fargo & Company
Wells Fargo & Company Stock Performance
NYSE WFC traded up $0.84 on Monday, reaching $58.24. The stock had a trading volume of 17,511,043 shares, compared to its average volume of 18,039,668. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The firm has a fifty day moving average of $59.39 and a two-hundred day moving average of $54.35. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55. The company has a market cap of $203.04 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.23 EPS. On average, equities research analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Friday, May 10th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 29.23%.
Wells Fargo & Company Profile
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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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