Wells Fargo & Company (NYSE:WFC) Stock Position Increased by MONECO Advisors LLC

MONECO Advisors LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 7,018 shares of the financial services provider’s stock after buying an additional 134 shares during the quarter. MONECO Advisors LLC’s holdings in Wells Fargo & Company were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. National Pension Service lifted its position in Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its position in Wells Fargo & Company by 2.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after purchasing an additional 162,066 shares during the last quarter. Nordea Investment Management AB lifted its position in Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after purchasing an additional 575,892 shares during the last quarter. Two Sigma Advisers LP lifted its position in Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after purchasing an additional 5,237,500 shares during the last quarter. Finally, Canoe Financial LP bought a new stake in Wells Fargo & Company in the 3rd quarter valued at about $160,529,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 0.5 %

WFC stock opened at $77.10 on Tuesday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The company’s 50 day simple moving average is $75.30 and its 200-day simple moving average is $67.28. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $256.72 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.18 and a beta of 1.18.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The business had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the topic of several research analyst reports. The Goldman Sachs Group raised 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. UBS Group raised 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. Keefe, Bruyette & Woods raised 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. Morgan Stanley raised 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, Evercore ISI raised 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. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.39.

About Wells Fargo & Company

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.