3,184 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by WealthPLAN Partners LLC

WealthPLAN Partners LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,184 shares of the financial services provider’s stock, valued at approximately $224,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Quadrant Private Wealth Management LLC boosted its holdings in Wells Fargo & Company by 4.9% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 9,880 shares of the financial services provider’s stock valued at $694,000 after purchasing an additional 460 shares in the last quarter. PICTET BANK & TRUST Ltd boosted its holdings in Wells Fargo & Company by 4.2% in the 4th quarter. PICTET BANK & TRUST Ltd now owns 38,025 shares of the financial services provider’s stock valued at $2,671,000 after purchasing an additional 1,525 shares in the last quarter. Klingenstein Fields & Co. LP boosted its holdings in Wells Fargo & Company by 5.8% in the 4th quarter. Klingenstein Fields & Co. LP now owns 5,108 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 278 shares in the last quarter. Asset Planning Inc purchased a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $208,000. Finally, Banque Pictet & Cie SA boosted its holdings in Wells Fargo & Company by 8.5% in the 4th quarter. Banque Pictet & Cie SA now owns 1,452,996 shares of the financial services provider’s stock valued at $102,058,000 after purchasing an additional 113,439 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $79.68 on Friday. The firm’s 50-day moving average price is $74.41 and its two-hundred day moving average price is $66.10. Wells Fargo & Company has a 52-week low of $48.62 and a 52-week high of $81.50. The stock has a market capitalization of $265.29 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.22 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results 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. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business earned $0.86 earnings per share. Wells Fargo & Company’s revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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 paid a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WFC. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Barclays lifted their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. UBS Group lifted their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $73.39.

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.