Lbp Am Sa Buys 35,429 Shares of Wells Fargo & Company (NYSE:WFC)

Lbp Am Sa lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 199.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,216 shares of the financial services provider’s stock after acquiring an additional 35,429 shares during the quarter. Lbp Am Sa’s holdings in Wells Fargo & Company were worth $3,738,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $26,000. Truvestments Capital LLC bought a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Finally, Rakuten Securities Inc. lifted its position in shares of Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 237 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on WFC shares. 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. Barclays raised their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.39.

Wells Fargo & Company Trading Up 3.6 %

WFC stock opened at $70.96 on Friday. The business has a fifty day moving average price of $75.89 and a 200 day moving average price of $68.93. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The stock has a market capitalization of $233.31 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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 analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the company earned $0.86 EPS. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. Wells Fargo & Company’s payout ratio is 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.