Klingenstein Fields & Co. LP Increases Position in Wells Fargo & Company (NYSE:WFC)

Klingenstein Fields & Co. LP increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,108 shares of the financial services provider’s stock after buying an additional 278 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Wells Fargo & Company were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its holdings in Wells Fargo & Company by 106.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 48,233 shares of the financial services provider’s stock worth $2,725,000 after buying an additional 24,911 shares during the period. B.O.S.S. Retirement Advisors LLC acquired a new position in Wells Fargo & Company in the 3rd quarter worth approximately $452,000. Alliance Wealth Advisors LLC boosted its position in Wells Fargo & Company by 2.0% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 10,505 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 210 shares in the last quarter. Hengehold Capital Management LLC purchased a new stake in Wells Fargo & Company in the 3rd quarter worth approximately $260,000. Finally, Mezzasalma Advisors LLC boosted its position in Wells Fargo & Company by 6.9% in the 3rd quarter. Mezzasalma Advisors LLC now owns 4,562 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 295 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 0.6 %

Shares of NYSE:WFC opened at $78.76 on Friday. The business has a 50-day moving average price of $74.20 and a 200 day moving average price of $65.87. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $262.23 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.22 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $47.96 and a 12-month high of $81.50.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same period last year, the business posted $0.86 EPS. Wells Fargo & Company’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is presently 29.74%.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their target price on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Morgan Stanley increased their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Evercore ISI increased their target price 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. Finally, UBS Group increased their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Eleven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Profile

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.