Saxon Interests Inc. Purchases New Stake in Wells Fargo & Company (NYSE:WFC)

Saxon Interests Inc. purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,838 shares of the financial services provider’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in Wells Fargo & Company in the fourth quarter valued at about $2,049,693,000. Moneta Group Investment Advisors LLC grew its position in Wells Fargo & Company by 129,312.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock valued at $1,085,410,000 after acquiring an additional 26,267,166 shares during the last quarter. Renaissance Technologies LLC grew its position in Wells Fargo & Company by 1,478.6% in the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after acquiring an additional 7,859,100 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new position in Wells Fargo & Company in the first quarter valued at about $345,861,000. Finally, Imprint Wealth LLC grew its position in Wells Fargo & Company by 4,238.0% in the second quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock valued at $428,490,000 after acquiring an additional 4,186,124 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.6 %

WFC traded up $0.35 during trading on Thursday, hitting $57.96. The company’s stock had a trading volume of 14,546,593 shares, compared to its average volume of 19,147,393. Wells Fargo & Company has a twelve month low of $36.27 and a twelve month high of $58.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The stock’s fifty day moving average price is $53.00 and its 200-day moving average price is $47.01. The firm has a market capitalization of $205.20 billion, a P/E ratio of 12.02, a PEG ratio of 1.18 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The business had revenue of $20.48 billion during the quarter, compared to analyst estimates of $20.30 billion. During the same period last year, the firm posted $0.67 earnings per share. Wells Fargo & Company’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s payout ratio is 29.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Morgan Stanley lifted their target price on Wells Fargo & Company from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, January 30th. Raymond James boosted their price target on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Compass Point boosted their price target on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.85.

Wells Fargo & Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.