Myriad Asset Management US LP Takes Position in Wells Fargo & Company (NYSE:WFC)

Myriad Asset Management US LP acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 21,997 shares of the financial services provider’s stock, valued at approximately $1,545,000. Wells Fargo & Company makes up approximately 1.0% of Myriad Asset Management US LP’s portfolio, making the stock its 28th largest position.

Several other large investors also recently modified their holdings of WFC. Vontobel Holding Ltd. increased its position in Wells Fargo & Company by 106.8% in the third quarter. Vontobel Holding Ltd. now owns 48,233 shares of the financial services provider’s stock worth $2,725,000 after purchasing an additional 24,911 shares during the period. B.O.S.S. Retirement Advisors LLC acquired a new position in Wells Fargo & Company in the 3rd quarter worth $452,000. Hengehold Capital Management LLC acquired a new position in Wells Fargo & Company during the 3rd quarter worth approximately $260,000. Good Life Advisors LLC lifted its position in Wells Fargo & Company by 5.7% during the 3rd quarter. Good Life Advisors LLC now owns 11,797 shares of the financial services provider’s stock worth $666,000 after buying an additional 637 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Wells Fargo & Company by 2.5% during the 3rd quarter. Global Retirement Partners LLC now owns 59,847 shares of the financial services provider’s stock worth $3,381,000 after purchasing an additional 1,434 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WFC. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Compass Point lifted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Barclays upped their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Performance

Shares of NYSE:WFC opened at $79.68 on Friday. The stock has a market capitalization of $265.29 billion, a P/E ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $48.62 and a 52 week high of $81.50. The firm has a fifty day simple moving average of $74.30 and a two-hundred day simple moving average of $65.96. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data 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. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

About Wells Fargo & Company

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.