Thurston Springer Miller Herd & Titak Inc. Acquires 175 Shares of Wells Fargo & Company (NYSE:WFC)

Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,670 shares of the financial services provider’s stock after buying an additional 175 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Wells Fargo & Company were worth $258,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WFC. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company in the second quarter worth $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company during the third quarter valued at approximately $29,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $75.94 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The business has a 50-day moving average price of $72.47 and a 200-day moving average price of $63.24. The firm has a market cap of $252.85 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. Wells Fargo & Company’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities research analysts predict that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is currently 33.26%.

Analysts Set New Price Targets

Several research firms recently commented on WFC. Barclays upped their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group raised their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Compass Point boosted their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $72.17.

About Wells Fargo & Company

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.