Harbour Investments Inc. Purchases 821 Shares of Wells Fargo & Company (NYSE:WFC)

Harbour Investments Inc. increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,650 shares of the financial services provider’s stock after buying an additional 821 shares during the period. Harbour Investments Inc.’s holdings in Wells Fargo & Company were worth $2,012,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of WFC. Atlanta Consulting Group Advisors LLC bought a new position in Wells Fargo & Company during the third quarter worth $275,000. Claro Advisors LLC raised its stake in Wells Fargo & Company by 15.6% during the third quarter. Claro Advisors LLC now owns 16,109 shares of the financial services provider’s stock worth $910,000 after buying an additional 2,173 shares during the last quarter. Aljian Capital Management LLC bought a new position in Wells Fargo & Company during the third quarter worth $513,000. GLOBALT Investments LLC GA bought a new position in Wells Fargo & Company during the third quarter worth $5,764,000. Finally, Aviso Wealth Management increased its stake in Wells Fargo & Company by 47.8% in the third quarter. Aviso Wealth Management now owns 16,595 shares of the financial services provider’s stock valued at $937,000 after purchasing an additional 5,368 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.0 %

Wells Fargo & Company stock opened at $70.88 on Tuesday. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock has a market cap of $233.07 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The firm’s 50-day simple moving average is $75.87 and its 200 day simple moving average is $69.11. 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 (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same period in the previous year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analyst Weigh In

Several research firms have weighed in on WFC. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Morgan Stanley lifted their price target 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. Royal Bank of Canada raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research note on Thursday, March 13th. Finally, Compass Point lifted their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $74.39.

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.