Powers Advisory Group LLC Buys New Holdings in Wells Fargo & Company (NYSE:WFC)

Powers Advisory Group LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 3,441 shares of the financial services provider’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Two Sigma Advisers LP increased its stake in Wells Fargo & Company by 730.4% in the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares during the period. Canoe Financial LP bought a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at approximately $160,529,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after buying an additional 1,659,716 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Wells Fargo & Company by 410.8% during the 4th quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after buying an additional 1,105,679 shares during the period. Finally, National Pension Service boosted its stake 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 buying an additional 897,195 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $78.89 on Friday. The firm has a market capitalization of $262.67 billion, a P/E ratio of 14.66, a PEG ratio of 1.18 and a beta of 1.18. The business has a 50-day moving average of $73.45 and a 200-day moving average of $64.48. 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 1 year low of $47.45 and a 1 year high of $79.24.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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. The firm had revenue of $20.38 billion during 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 revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm 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. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

Analyst Ratings Changes

Several brokerages have recently commented on WFC. Barclays boosted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Compass Point boosted their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of Wells Fargo & Company in a report on Monday, October 14th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus 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.