FLC Capital Advisors Invests $208,000 in Wells Fargo & Company (NYSE:WFC)

FLC Capital Advisors purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,965 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company in the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $26,000. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the 3rd quarter valued at $29,000. Modus Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth $32,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $77.22 on Monday. The firm has a market capitalization of $257.11 billion, a PE ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 1-year low of $46.12 and a 1-year high of $78.13. The business’s 50 day moving average is $72.74 and its 200-day moving average is $63.46.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio is 33.26%.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. UBS Group upped their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, December 9th. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday, October 8th. Citigroup upped their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.39.

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.