Trexquant Investment LP Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Trexquant Investment LP acquired a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 139,690 shares of the financial services provider’s stock, valued at approximately $6,876,000.

A number of other institutional investors also recently bought and sold shares of the stock. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company in the third quarter valued at about $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $25,000. Leith Wheeler Investment Counsel Ltd. lifted its position in shares of Wells Fargo & Company by 208.0% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after buying an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the 4th quarter valued at approximately $29,000. Finally, Wetzel Investment Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth $32,000. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Jefferies Financial Group upped their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Argus lifted their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. The Goldman Sachs Group lifted their price target on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Fourteen analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Stock Down 0.1 %

WFC stock traded down $0.05 on Wednesday, hitting $61.41. 754,289 shares of the company’s stock were exchanged, compared to its average volume of 18,469,951. The firm has a 50 day moving average price of $58.87 and a two-hundred day moving average price of $52.15. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The stock has a market cap of $214.09 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

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.