Wells Fargo & Company (NYSE:WFC) Shares Purchased by Hemington Wealth Management

Hemington Wealth Management raised its stake in Wells Fargo & Company (NYSE:WFC) by 13.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,364 shares of the financial services provider’s stock after purchasing an additional 278 shares during the quarter. Hemington Wealth Management’s holdings in Wells Fargo & Company were worth $166,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the third quarter valued at about $29,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $30,000. Decker Retirement Planning Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth approximately $32,000. Finally, MidAtlantic Capital Management Inc. purchased a new stake in Wells Fargo & Company during the third quarter worth approximately $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on WFC shares. Evercore ISI upped their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. UBS Group upped their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group upped their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Keefe, Bruyette & Woods upped their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Finally, Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 0.5 %

NYSE:WFC opened at $79.22 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $74.08 and its two-hundred day moving average is $65.78. Wells Fargo & Company has a 52 week low of $47.59 and a 52 week high of $81.50. The company has a market cap of $263.76 billion, a PE ratio of 14.72, a P/E/G ratio of 1.22 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. On average, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.