Bayban Makes New Investment in Wells Fargo & Company $WFC

Bayban bought a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 10,986 shares of the financial services provider’s stock, valued at approximately $1,024,000. Wells Fargo & Company comprises 0.9% of Bayban’s holdings, making the stock its 21st biggest position.

Several other institutional investors also recently made changes to their positions in WFC. Private Wealth Group LLC increased its holdings in shares of Wells Fargo & Company by 2.5% in the 4th quarter. Private Wealth Group LLC now owns 4,514 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 108 shares in the last quarter. Nixon Peabody Trust Co. boosted its holdings in Wells Fargo & Company by 3.6% during the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after buying an additional 115 shares in the last quarter. Simmons Bank boosted its holdings in Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock worth $593,000 after buying an additional 116 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its position in Wells Fargo & Company by 1.0% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 12,048 shares of the financial services provider’s stock worth $1,123,000 after buying an additional 117 shares during the period. Finally, D Orazio & Associates Inc. grew its position in Wells Fargo & Company by 3.6% during the third quarter. D Orazio & Associates Inc. now owns 3,436 shares of the financial services provider’s stock worth $288,000 after buying an additional 118 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.1%

WFC stock opened at $82.31 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. The company’s 50 day simple moving average is $79.70 and its 200-day simple moving average is $84.59. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The firm has a market capitalization of $251.89 billion, a PE ratio of 12.70, a P/E/G ratio of 0.96 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.02. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The firm had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. During the same period in the previous year, the firm posted $1.39 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 6.86 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, May 8th. Wells Fargo & Company’s payout ratio is 27.78%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WFC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Monday, April 20th. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Morgan Stanley dropped their price objective on Wells Fargo & Company from $108.00 to $100.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Barclays reduced their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Finally, HSBC upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.24.

Read Our Latest Analysis on WFC

Wells Fargo & Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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