Caprock Group LLC Acquires 10,551 Shares of Wells Fargo & Company (NYSE:WFC)

Caprock Group LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 12.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 94,222 shares of the financial services provider’s stock after purchasing an additional 10,551 shares during the period. Caprock Group LLC’s holdings in Wells Fargo & Company were worth $6,618,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Powers Advisory Group LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth about $242,000. Narus Financial Partners LLC grew its holdings in shares of Wells Fargo & Company by 19.3% during the 4th quarter. Narus Financial Partners LLC now owns 4,773 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 773 shares during the last quarter. Evernest Financial Advisors LLC increased its position in Wells Fargo & Company by 35.4% during the 4th quarter. Evernest Financial Advisors LLC now owns 5,341 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 1,397 shares in the last quarter. Granite Harbor Advisors Inc. bought a new position in Wells Fargo & Company in the 4th quarter valued at approximately $226,000. Finally, Cibc World Market Inc. lifted its stake in Wells Fargo & Company by 108.7% in the 4th quarter. Cibc World Market Inc. now owns 1,310,390 shares of the financial services provider’s stock valued at $92,042,000 after purchasing an additional 682,636 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $78.81 on Friday. The business has a 50-day moving average price of $73.53 and a two-hundred day moving average price of $64.58. Wells Fargo & Company has a 1-year low of $47.45 and a 1-year high of $79.29. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $262.40 billion, a P/E ratio of 14.65, a PEG ratio of 1.18 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WFC. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their price target for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Compass Point upped their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Tuesday, October 8th. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Finally, UBS Group raised their price objective on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $73.39.

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.