E&G Advisors LP Buys 986 Shares of Wells Fargo & Company (NYSE:WFC)

E&G Advisors LP lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 15.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,520 shares of the financial services provider’s stock after acquiring an additional 986 shares during the period. E&G Advisors LP’s holdings in Wells Fargo & Company were worth $528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Truvestments Capital LLC bought a new position in Wells Fargo & Company in the third quarter valued at approximately $29,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $30,000. Decker Retirement Planning Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Wells Fargo & Company in the third quarter worth $34,000. Finally, FSA Wealth Management LLC acquired a new position in Wells Fargo & Company during the third quarter worth $34,000. 75.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Compass Point boosted their price objective on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI raised their price objective on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wolfe Research upgraded 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 note on Tuesday, October 8th. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group upped their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Trading Down 0.8 %

NYSE WFC opened at $78.14 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock’s 50-day simple moving average is $73.59 and its two-hundred day simple moving average is $64.78. Wells Fargo & Company has a twelve month low of $47.45 and a twelve month high of $79.29. The company has a market capitalization of $260.17 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.19 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 EPS. Research analysts forecast that Wells Fargo & Company will post 5.84 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.