Wells Fargo & Company (NYSE:WFC) Holdings Lifted by Gibraltar Capital Management Inc.

Gibraltar Capital Management Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 9.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,411 shares of the financial services provider’s stock after buying an additional 13,424 shares during the period. Wells Fargo & Company makes up 3.3% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 10th largest holding. Gibraltar Capital Management Inc.’s holdings in Wells Fargo & Company were worth $7,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of WFC. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company during the 3rd quarter worth $25,000. Arlington Trust Co LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the 4th quarter worth $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

WFC traded down $0.48 during midday trading on Tuesday, reaching $59.32. 18,007,381 shares of the company’s stock were exchanged, compared to its average volume of 19,055,352. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $210.02 billion, a PE ratio of 12.38, a P/E/G ratio of 1.16 and a beta of 1.19. The business’s 50-day moving average price is $57.24 and its 200 day moving average price is $49.97. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.06 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Jefferies Financial Group lifted their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a report on Monday, April 8th. HSBC lifted their target price on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Finally, Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price on the stock. in a report on Thursday, January 18th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & 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.