Cape Investment Advisory Inc. Purchases 219 Shares of Wells Fargo & Company (NYSE:WFC)

Cape Investment Advisory Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,746 shares of the financial services provider’s stock after purchasing an additional 219 shares during the period. Cape Investment Advisory Inc.’s holdings in Wells Fargo & Company were worth $332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. WealthPlan Investment Management LLC lifted its holdings in shares of Wells Fargo & Company by 2,174.3% in the third quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock valued at $870,000 after purchasing an additional 20,351 shares in the last quarter. Lincoln National Corp raised its holdings in Wells Fargo & Company by 18.6% during the third quarter. Lincoln National Corp now owns 43,786 shares of the financial services provider’s stock worth $1,789,000 after acquiring an additional 6,881 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its holdings in Wells Fargo & Company by 18.2% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 15,767 shares of the financial services provider’s stock worth $644,000 after acquiring an additional 2,432 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Wells Fargo & Company by 11.5% during the third quarter. Los Angeles Capital Management LLC now owns 153,790 shares of the financial services provider’s stock worth $6,284,000 after acquiring an additional 15,862 shares in the last quarter. Finally, LGT Group Foundation raised its holdings in Wells Fargo & Company by 1.1% during the third quarter. LGT Group Foundation now owns 53,345 shares of the financial services provider’s stock worth $2,113,000 after acquiring an additional 568 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Up 0.9 %

NYSE:WFC traded up $0.53 during trading hours on Friday, hitting $60.21. 9,913,040 shares of the company were exchanged, compared to its average volume of 16,097,602. The stock has a market capitalization of $209.91 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.18. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a fifty day simple moving average of $59.03 and a 200 day simple moving average of $52.47.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.23 EPS. Sell-side analysts expect that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.33%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.23%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Compass Point reiterated a “neutral” rating and set a $64.00 target price on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Evercore ISI upped their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. HSBC upped their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, March 28th. Argus upped their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, StockNews.com upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.99.

Get Our Latest Analysis on Wells Fargo & Company

About Wells Fargo & Company

(Free Report)

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

See Also

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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