Burney Co. Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Burney Co. boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 102.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 73,907 shares of the financial services provider’s stock after buying an additional 37,324 shares during the period. Burney Co.’s holdings in Wells Fargo & Company were worth $5,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Mattson Financial Services LLC bought a new position in shares of Wells Fargo & Company in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Wells Fargo & Company in the 2nd quarter worth approximately $26,000. Truvestments Capital LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $29,000. Modus Advisors LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $30,000. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Wells Fargo & Company in the third quarter worth $34,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 4.5 %

WFC opened at $74.39 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50 day moving average price is $72.41 and its 200-day moving average price is $63.15. Wells Fargo & Company has a one year low of $46.12 and a one year high of $78.13. The stock has a market cap of $247.68 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 1.47 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.25% and a net margin of 14.43%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the company posted $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts forecast that Wells Fargo & Company will post 5.43 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Friday, November 8th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. Wells Fargo & Company’s payout ratio is 33.26%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WFC. Citigroup lifted their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Evercore ISI increased their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price objective for the stock from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.92.

Wells Fargo & Company 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.