Michael A. Dubis Financial Planning LLC Makes New $456,000 Investment in Wells Fargo & Company (NYSE:WFC)

Michael A. Dubis Financial Planning LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,492 shares of the financial services provider’s stock, valued at approximately $456,000.

Several other large investors also recently modified their holdings of WFC. Spinnaker Trust increased its position in Wells Fargo & Company by 1.8% in the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after buying an additional 130 shares during the period. MONECO Advisors LLC increased its position in Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 134 shares during the period. Crown Wealth Group LLC boosted its holdings in Wells Fargo & Company by 2.2% in the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 140 shares during the period. Jacobsen Capital Management grew its position in Wells Fargo & Company by 2.8% in the 4th quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 148 shares during the last quarter. Finally, New Republic Capital LLC increased its holdings in shares of Wells Fargo & Company by 2.9% during the 4th quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 149 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 2.2 %

NYSE WFC opened at $70.71 on Friday. The stock’s 50 day simple moving average is $75.84 and its 200 day simple moving average is $69.92. Wells Fargo & Company has a one year low of $50.15 and a one year high of $81.50. The firm has a market cap of $230.87 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85.

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 return on equity of 12.38% and a net margin of 15.73%. The company had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Analyst Ratings Changes

WFC has been the topic of a number of recent research reports. Barclays lifted their target price on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Keefe, Bruyette & Woods lifted their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a report on Thursday, January 16th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Thursday, March 13th. UBS Group raised their target price on Wells Fargo & Company from $69.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Morgan Stanley increased their price objective on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $74.97.

Wells Fargo & Company 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.