SeaCrest Wealth Management LLC Boosts Stock Position in Wells Fargo & Company (NYSE:WFC)

SeaCrest Wealth Management LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 6.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,824 shares of the financial services provider’s stock after acquiring an additional 2,050 shares during the period. SeaCrest Wealth Management LLC’s holdings in Wells Fargo & Company were worth $1,589,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Defender Capital LLC. purchased a new stake in Wells Fargo & Company during the 1st quarter valued at $246,000. Fairfield Bush & CO. bought a new position in Wells Fargo & Company during the 1st quarter valued at about $124,000. Dakota Wealth Management bought a new stake in shares of Wells Fargo & Company in the first quarter worth approximately $222,000. Candriam Luxembourg S.C.A. lifted its position in Wells Fargo & Company by 0.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider’s stock valued at $13,274,000 after purchasing an additional 770 shares during the period. Finally, Zions Bancorporation N.A. grew its position in Wells Fargo & Company by 24.5% in the 1st quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 1,895 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $0.35 during mid-day trading on Thursday, hitting $57.96. 14,546,593 shares of the company’s stock traded hands, compared to its average volume of 19,147,393. The company has a market capitalization of $205.20 billion, a P/E ratio of 12.02, a PEG ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a 1 year low of $36.27 and a 1 year 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 company’s 50-day moving average is $53.00 and its two-hundred day moving average is $47.01.

Wells Fargo & Company (NYSE:WFC) last released its quarterly 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). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts anticipate 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 given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.42%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.05%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Compass Point upped their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $51.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 9th. Evercore ISI increased their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday. Raymond James boosted their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 16th. Finally, Barclays lifted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.85.

Wells Fargo & Company Company Profile

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.