Grant Private Wealth Management Inc Takes Position in Wells Fargo & Company (NYSE:WFC)

Grant Private Wealth Management Inc acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 7,948 shares of the financial services provider’s stock, valued at approximately $558,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $26,000. Modus Advisors LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $30,000. Rakuten Securities Inc. raised its position in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Finally, Decker Retirement Planning Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 7.5 %

Shares of Wells Fargo & Company stock traded down $5.39 during midday trading on Thursday, reaching $66.87. 13,140,653 shares of the company’s stock traded hands, compared to its average volume of 17,093,658. The stock has a 50 day moving average of $75.50 and a 200-day moving average of $70.43. The company has a market cap of $218.34 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. 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 issued 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 firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on WFC shares. Bank of America decreased their target price on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada upgraded shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Thursday, March 13th. Keefe, Bruyette & Woods upped their target price on shares of 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. UBS Group lifted their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group raised their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Nine research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.55.

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.