APCM Wealth Management for Individuals acquired a new stake in shares of Wells Fargo (NYSE:WFC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,485 shares of the financial services provider’s stock, valued at approximately $332,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Delpha Capital Management LLC bought a new stake in Wells Fargo during the fourth quarter worth $103,000. Stelac Advisory Services LLC bought a new stake in Wells Fargo during the fourth quarter worth $109,000. Santori & Peters Inc. bought a new stake in Wells Fargo during the fourth quarter worth $110,000. Cerebellum GP LLC bought a new stake in Wells Fargo during the fourth quarter worth $132,000. Finally, BKS Advisors LLC bought a new stake in Wells Fargo during the third quarter worth $143,000. Hedge funds and other institutional investors own 76.79% of the company’s stock.
A number of research analysts have issued reports on the company. Vetr upgraded Wells Fargo from a “sell” rating to a “hold” rating and set a $54.78 price objective for the company in a research note on Monday, February 12th. UBS set a $63.00 price objective on Wells Fargo and gave the company a “hold” rating in a research note on Monday, February 5th. BMO Capital Markets restated a “hold” rating and issued a $60.00 price objective on shares of Wells Fargo in a research note on Monday, February 5th. Keefe, Bruyette & Woods downgraded Wells Fargo from an “outperform” rating to a “market perform” rating and set a $63.00 price objective for the company. in a research note on Sunday, February 4th. Finally, Zacks Investment Research downgraded Wells Fargo from a “buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Wells Fargo presently has a consensus rating of “Hold” and a consensus price target of $61.83.
Shares of NYSE WFC opened at $54.75 on Wednesday. Wells Fargo has a one year low of $54.37 and a one year high of $55.27. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a market cap of $265.59 billion, a PE ratio of 13.32, a PEG ratio of 1.48 and a beta of 1.13.
Wells Fargo (NYSE:WFC) last issued its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.05. Wells Fargo had a return on equity of 12.46% and a net margin of 22.80%. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.74 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. research analysts expect that Wells Fargo will post 4.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 4th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.85%. Wells Fargo’s dividend payout ratio is presently 37.96%.
Wells Fargo announced that its Board of Directors has initiated a share repurchase program on Tuesday, January 23rd that authorizes the company to buyback 350,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
Wells Fargo Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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