NorthRock Partners LLC Buys 2,031 Shares of Wells Fargo & Company (NYSE:WFC)

NorthRock Partners LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.5% in the 4th quarter, HoldingsChannel reports. The fund owned 33,231 shares of the financial services provider’s stock after acquiring an additional 2,031 shares during the period. NorthRock Partners LLC’s holdings in Wells Fargo & Company were worth $1,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC boosted its position in Wells Fargo & Company by 410.5% during the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after purchasing an additional 54,262 shares in the last quarter. United Services Automobile Association lifted its holdings in Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after buying an additional 11,825 shares in the last quarter. Synovus Financial Corp raised its position in Wells Fargo & Company by 61.7% in the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after purchasing an additional 46,525 shares in the last quarter. Trust Point Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth $2,499,000. Finally, WealthPlan Investment Management LLC increased its stake in Wells Fargo & Company by 2,174.3% in the third quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock valued at $870,000 after purchasing an additional 20,351 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on WFC. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Compass Point restated a “neutral” rating and set a $64.00 target price 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. Argus increased their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. upped their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Fourteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.99.

View Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Price Performance

NYSE:WFC traded up $0.02 during trading hours on Friday, hitting $61.08. 15,795,963 shares of the company’s stock traded hands, compared to its average volume of 18,543,062. The business’s fifty day simple moving average is $58.72 and its two-hundred day simple moving average is $51.70. The firm has a market cap of $212.94 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55.

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, beating the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts anticipate that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

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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