Wells Fargo & Company (NYSE:WFC) Shares Bought by Avestar Capital LLC

Avestar Capital LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 39,854 shares of the financial services provider’s stock after acquiring an additional 1,803 shares during the period. Avestar Capital LLC’s holdings in Wells Fargo & Company were worth $2,799,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of WFC. Jacobsen Capital Management raised its position in Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after acquiring an additional 148 shares in the last quarter. New Republic Capital LLC grew its stake in shares of Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 149 shares during the period. Quad Cities Investment Group LLC increased its holdings in shares of Wells Fargo & Company by 0.3% in the 4th quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after purchasing an additional 158 shares in the last quarter. Investors Research Corp lifted its stake in shares of Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 160 shares during the period. Finally, Ellenbecker Investment Group boosted its holdings in Wells Fargo & Company by 3.9% during the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock opened at $79.22 on Thursday. The firm has a market cap of $263.76 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 1 year low of $47.59 and a 1 year high of $81.50. The stock has a 50-day simple moving average of $74.20 and a 200-day simple moving average of $65.87.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods upped their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Citigroup lifted their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Finally, Barclays upped their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $73.39.

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.