Wells Fargo & Company (NYSE:WFC) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 2.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 105,457 shares of the financial services provider’s stock after buying an additional 2,464 shares during the period. Procyon Advisors LLC’s holdings in Wells Fargo & Company were worth $5,191,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kathmere Capital Management LLC grew its holdings in Wells Fargo & Company by 19.5% during the 3rd quarter. Kathmere Capital Management LLC now owns 7,248 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 1,185 shares in the last quarter. Stoneridge Investment Partners LLC boosted its position in Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after purchasing an additional 54,262 shares during the period. Caxton Associates LP bought a new position in Wells Fargo & Company during the 2nd quarter worth $4,967,000. United Services Automobile Association increased its position in Wells Fargo & Company by 13.7% in the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after buying an additional 11,825 shares during the period. Finally, Synovus Financial Corp boosted its holdings in shares of Wells Fargo & Company by 61.7% during the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after acquiring an additional 46,525 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC traded up $0.28 on Thursday, reaching $57.89. 1,413,401 shares of the stock traded hands, compared to its average volume of 18,923,348. Wells Fargo & Company has a 12 month low of $36.27 and a 12 month high of $58.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. The stock’s 50-day moving average price is $52.78 and its 200-day moving average price is $46.94. The firm has a market cap of $204.95 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.18 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.30). The business had revenue of $20.48 billion for the quarter, compared to analyst estimates of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. Wells Fargo & Company’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. Equities analysts forecast that Wells Fargo & Company will post 4.72 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.05%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. HSBC boosted their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday. Citigroup reiterated a “neutral” rating and issued a $63.00 target price (up previously from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Barclays increased their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Compass Point boosted their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Twelve investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $55.19.

About Wells Fargo & Company

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.