CPA Asset Management LLC Buys New Position in Wells Fargo & Company (NYSE:WFC)

CPA Asset Management LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,980 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Longbow Finance SA raised its stake in Wells Fargo & Company by 90.2% in the 4th quarter. Longbow Finance SA now owns 157,710 shares of the financial services provider’s stock valued at $11,078,000 after purchasing an additional 74,784 shares during the last quarter. Todd Asset Management LLC raised its stake in Wells Fargo & Company by 19.2% in the 4th quarter. Todd Asset Management LLC now owns 417,315 shares of the financial services provider’s stock valued at $29,312,000 after purchasing an additional 67,148 shares during the last quarter. FourThought Financial Partners LLC acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $375,000. BankPlus Trust Department acquired a new position in Wells Fargo & Company in the 4th quarter valued at about $35,000. Finally, Wealthstream Advisors Inc. raised its stake in Wells Fargo & Company by 15.8% in the 4th quarter. Wealthstream Advisors Inc. now owns 7,179 shares of the financial services provider’s stock valued at $504,000 after purchasing an additional 981 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WFC. UBS Group boosted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Compass Point upped their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Barclays upped their price objective 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, January 16th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Stock Down 1.6 %

Shares of NYSE:WFC opened at $75.95 on Wednesday. The stock has a market capitalization of $252.87 billion, a P/E ratio of 14.12, a PEG ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $50.15 and a 1 year high of $81.50. The stock has a 50-day simple moving average of $75.40 and a 200-day simple moving average of $67.44. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.