Cibc World Markets Corp Purchases 457,124 Shares of Wells Fargo & Company (NYSE:WFC)

Cibc World Markets Corp increased its position in Wells Fargo & Company (NYSE:WFC) by 77.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,044,751 shares of the financial services provider’s stock after acquiring an additional 457,124 shares during the quarter. Cibc World Markets Corp’s holdings in Wells Fargo & Company were worth $51,423,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Fortis Group Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. increased its holdings in shares of Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 356,620 shares during the period. Tennessee Valley Asset Management Partners bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $29,000. Finally, Wetzel Investment Advisors Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.6 %

Shares of WFC traded down $0.95 on Thursday, reaching $57.73. 18,549,116 shares of the company’s stock were exchanged, compared to its average volume of 18,165,283. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $201.26 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.17. The business has a 50 day moving average price of $59.35 and a two-hundred day moving average price of $53.49. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. Research analysts anticipate that Wells Fargo & Company will post 5.08 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.43%. The ex-dividend date was Thursday, May 9th. Wells Fargo & Company’s payout ratio is presently 29.23%.

Analyst Ratings Changes

WFC has been the topic of several recent research reports. Oppenheimer reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Argus lifted their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Citigroup reiterated a “neutral” rating and set a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Finally, Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.99.

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.