MinichMacGregor Wealth Management LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

MinichMacGregor Wealth Management LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFCFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,168 shares of the financial services provider’s stock, valued at approximately $205,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vise Technologies Inc. boosted its stake in shares of Wells Fargo & Company by 46.6% during the fourth quarter. Vise Technologies Inc. now owns 54,331 shares of the financial services provider’s stock worth $2,674,000 after buying an additional 17,258 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Wells Fargo & Company by 6.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,681,000 shares of the financial services provider’s stock valued at $179,191,000 after acquiring an additional 218,141 shares during the last quarter. Westpac Banking Corp acquired a new stake in Wells Fargo & Company during the 4th quarter worth approximately $259,000. Quotient Wealth Partners LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $728,000. Finally, First United Bank & Trust purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at approximately $125,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC stock traded up $0.62 on Tuesday, reaching $61.88. The company had a trading volume of 14,498,077 shares, compared to its average volume of 18,712,584. The company’s fifty day moving average is $58.35 and its 200 day moving average is $51.24. The company has a market cap of $215.73 billion, a P/E ratio of 12.92, a PEG ratio of 1.20 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a 1 year low of $37.46 and a 1 year high of $62.17.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.23 earnings per share. On average, research analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.26%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.23%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WFC. Citigroup reaffirmed a “neutral” rating and set a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Compass Point restated a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Evercore ISI boosted their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group lifted their price objective on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $58.99.

View Our Latest Report on Wells Fargo & Company

About Wells Fargo & Company

(Free Report)

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.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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