Wells Fargo & Company (NYSE:WFC) Shares Acquired by Seven Mile Advisory

Seven Mile Advisory boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 6.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,636 shares of the financial services provider’s stock after purchasing an additional 430 shares during the quarter. Seven Mile Advisory’s holdings in Wells Fargo & Company were worth $466,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in Wells Fargo & Company in the third quarter valued at approximately $256,000. CreativeOne Wealth LLC boosted its stake in Wells Fargo & Company by 51.7% in the third quarter. CreativeOne Wealth LLC now owns 9,637 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 3,285 shares during the period. Martingale Asset Management L P lifted its stake in Wells Fargo & Company by 75.5% in the third quarter. Martingale Asset Management L P now owns 7,599 shares of the financial services provider’s stock valued at $429,000 after buying an additional 3,269 shares during the last quarter. Acropolis Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter worth approximately $119,000. Finally, Semmax Financial Advisors Inc. raised its position in Wells Fargo & Company by 12.7% in the third quarter. Semmax Financial Advisors Inc. now owns 93,119 shares of the financial services provider’s stock worth $5,260,000 after acquiring an additional 10,459 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WFC. Citigroup cut their price target on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Morgan Stanley set a $79.00 price target on Wells Fargo & Company in a report on Monday, March 24th. Royal Bank of Canada upgraded shares of 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, March 13th. The Goldman Sachs Group upped their price objective on Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Bank of America cut their target price on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday. Nine analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.55.

Wells Fargo & Company Stock Performance

WFC stock traded down $5.39 during trading on Thursday, reaching $66.87. The stock had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The stock’s 50 day moving average is $75.50 and its two-hundred day moving average is $70.43. The firm has a market cap of $218.34 billion, a PE ratio of 12.43, a PEG ratio of 1.18 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The firm’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.39%. Wells Fargo & Company’s payout ratio is 29.74%.

Wells Fargo & Company 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.