11,318 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by NBZ Investment Advisors LLC

NBZ Investment Advisors LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, Holdings Channel reports. The firm purchased 11,318 shares of the financial services provider’s stock, valued at approximately $795,000. Wells Fargo & Company accounts for 0.4% of NBZ Investment Advisors LLC’s holdings, making the stock its 25th largest position.

Several other institutional investors also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at $26,000. Truvestments Capital LLC purchased a new position in Wells Fargo & Company during the 3rd quarter valued at about $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $30,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $30,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Wells Fargo & Company by 126.7% during the fourth quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on WFC shares. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. UBS Group upped their price objective on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a report on Thursday, January 16th. Finally, Citigroup reduced their price objective on shares of Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a research note on Monday. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $74.18.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $72.33 on Friday. The stock has a market cap of $236.17 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.18 and a beta of 1.16. Wells Fargo & Company has a 12 month low of $50.15 and a 12 month high of $81.50. The company has a 50 day simple moving average of $75.97 and a two-hundred day simple moving average of $69.80. 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 (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 firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, February 7th. 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.