Lingohr Asset Management GmbH Invests $1.13 Million in Wells Fargo & Company (NYSE:WFC)

Lingohr Asset Management GmbH purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,081 shares of the financial services provider’s stock, valued at approximately $1,127,000. Wells Fargo & Company accounts for approximately 2.3% of Lingohr Asset Management GmbH’s investment portfolio, making the stock its 7th biggest position.

A number of other institutional investors have also recently bought and sold shares of WFC. Rialto Wealth Management LLC acquired a new position in shares of Wells Fargo & Company in the fourth quarter worth about $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company in the 3rd quarter worth approximately $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $30,000. McClarren Financial Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $30,000. Finally, Rakuten Securities Inc. raised its stake in Wells Fargo & Company by 126.7% during the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 237 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.4 %

Shares of Wells Fargo & Company stock opened at $72.79 on Thursday. Wells Fargo & Company has a 12-month low of $50.15 and a 12-month high of $81.50. 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 has a 50 day moving average price of $75.88 and a two-hundred day moving average price of $69.22. The stock has a market capitalization of $239.35 billion, a P/E ratio of 13.53, a PEG ratio of 1.18 and a beta of 1.16.

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, topping the consensus estimate 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 firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the firm posted $0.86 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 annualized dividend and a yield of 2.20%. Wells Fargo & Company’s payout ratio is 29.74%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on WFC. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday, March 13th. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Finally, Barclays lifted their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $74.39.

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.