Winebrenner Capital Management LLC Makes New $1.59 Million Investment in Wells Fargo & Company (NYSE:WFC)

Winebrenner Capital Management LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, Holdings Channel.com reports. The firm bought 22,566 shares of the financial services provider’s stock, valued at approximately $1,585,000. Wells Fargo & Company makes up about 1.2% of Winebrenner Capital Management LLC’s holdings, making the stock its 22nd largest position.

Several other hedge funds have also recently bought and sold shares of WFC. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at about $637,000. Grimes & Company Inc. grew its position in shares of Wells Fargo & Company by 3.1% in the third quarter. Grimes & Company Inc. now owns 31,678 shares of the financial services provider’s stock valued at $1,789,000 after purchasing an additional 949 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Wells Fargo & Company by 8.3% in the third quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock valued at $5,446,000 after purchasing an additional 7,415 shares during the last quarter. DT Investment Partners LLC grew its position in shares of Wells Fargo & Company by 9.3% in the third quarter. DT Investment Partners LLC now owns 3,851 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 327 shares during the last quarter. Finally, Financial Partners Group LLC grew its position in shares of Wells Fargo & Company by 10.4% in the third quarter. Financial Partners Group LLC now owns 16,011 shares of the financial services provider’s stock valued at $904,000 after purchasing an additional 1,502 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Keefe, Bruyette & Woods increased their target price 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. Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their target price 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. Finally, Barclays increased their target price 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. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Price Performance

WFC opened at $77.43 on Friday. The firm has a market capitalization of $257.81 billion, a PE ratio of 14.39, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The company has a fifty day moving average price of $75.20 and a two-hundred day moving average price of $66.90. 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 posted 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. The business had revenue of $20.38 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.07%. Wells Fargo & Company’s dividend payout ratio is currently 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.