DMKC Advisory Services LLC Invests $3.98 Million in Wells Fargo & Company (NYSE:WFC)

DMKC Advisory Services LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, Holdings Channel reports. The firm acquired 56,679 shares of the financial services provider’s stock, valued at approximately $3,981,000. Wells Fargo & Company comprises 3.6% of DMKC Advisory Services LLC’s holdings, making the stock its 7th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC raised its position in shares of Wells Fargo & Company by 19.1% in the fourth quarter. Empowered Funds LLC now owns 190,330 shares of the financial services provider’s stock valued at $13,369,000 after purchasing an additional 30,510 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Wells Fargo & Company by 37.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 638,233 shares of the financial services provider’s stock valued at $36,055,000 after acquiring an additional 173,083 shares during the period. Atlantic Union Bankshares Corp lifted its position in shares of Wells Fargo & Company by 17.4% during the third quarter. Atlantic Union Bankshares Corp now owns 177,570 shares of the financial services provider’s stock worth $10,031,000 after acquiring an additional 26,320 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in shares of Wells Fargo & Company by 16.4% during the third quarter. Chartwell Investment Partners LLC now owns 132,829 shares of the financial services provider’s stock worth $7,504,000 after acquiring an additional 18,717 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Wells Fargo & Company by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,027,696 shares of the financial services provider’s stock worth $58,055,000 after acquiring an additional 131,322 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

WFC opened at $75.95 on Wednesday. The stock has a market capitalization of $252.87 billion, a P/E ratio of 14.12, a PEG ratio of 1.18 and a beta of 1.18. 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 has a 12-month low of $50.15 and a 12-month high of $81.50. The stock has a 50-day moving average price of $75.40 and a 200-day moving average price of $67.44.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates 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 business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the business earned $0.86 earnings per share. Equities analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced 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. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Morgan Stanley raised their price objective 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. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Finally, Evercore ISI increased their target price on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.