Hayek Kallen Investment Management Invests $239,000 in Wells Fargo & Company (NYSE:WFC)

Hayek Kallen Investment Management purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, Holdings Channel reports. The firm purchased 4,860 shares of the financial services provider’s stock, valued at approximately $239,000.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Wells Fargo & Company by 11.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 241,139 shares of the financial services provider’s stock worth $9,853,000 after acquiring an additional 24,121 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Wells Fargo & Company by 16.0% during the 3rd quarter. Wealthfront Advisers LLC now owns 225,772 shares of the financial services provider’s stock worth $9,225,000 after buying an additional 31,070 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Wells Fargo & Company by 33.4% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 117,480 shares of the financial services provider’s stock worth $4,800,000 after buying an additional 29,416 shares during the last quarter. New Mexico Educational Retirement Board boosted its holdings in shares of Wells Fargo & Company by 5.5% in the 3rd quarter. New Mexico Educational Retirement Board now owns 195,216 shares of the financial services provider’s stock valued at $7,977,000 after buying an additional 10,100 shares in the last quarter. Finally, Tower Bridge Advisors grew its position in shares of Wells Fargo & Company by 9.9% in the 3rd quarter. Tower Bridge Advisors now owns 132,453 shares of the financial services provider’s stock valued at $5,412,000 after buying an additional 11,944 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

WFC traded up $0.02 on Friday, hitting $61.08. 15,795,963 shares of the company were exchanged, compared to its average volume of 18,543,062. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm has a market capitalization of $212.94 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. The business’s fifty day moving average is $58.72 and its 200 day moving average is $51.70.

Wells Fargo & Company (NYSE:WFCGet Free Report) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.23 EPS. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.29%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. Compass Point reissued a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. JPMorgan Chase & Co. lifted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 target price (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $58.99.

Get Our Latest Report on Wells Fargo & Company

Wells Fargo & Company Profile

(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.

Further Reading

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

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