23,575 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,575 shares of the financial services provider’s stock, valued at approximately $1,656,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital Performance Advisors LLP increased its stake in Wells Fargo & Company by 146.4% in the fourth quarter. Capital Performance Advisors LLP now owns 4,346 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 2,582 shares in the last quarter. Sierra Ocean LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $188,000. J.W. Cole Advisors Inc. increased its stake in Wells Fargo & Company by 4.5% in the fourth quarter. J.W. Cole Advisors Inc. now owns 40,735 shares of the financial services provider’s stock valued at $2,861,000 after purchasing an additional 1,754 shares in the last quarter. Valmark Advisers Inc. increased its stake in Wells Fargo & Company by 5.5% in the fourth quarter. Valmark Advisers Inc. now owns 8,300 shares of the financial services provider’s stock valued at $583,000 after purchasing an additional 431 shares in the last quarter. Finally, Copperleaf Capital LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $232,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. Morgan Stanley upped their target price 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. UBS Group upped their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods upped their target price 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. Barclays increased their price objective on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $73.39.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $79.68 on Monday. Wells Fargo & Company has a 12 month low of $48.62 and a 12 month high of $81.50. The firm has a fifty day simple moving average of $74.41 and a 200 day simple moving average of $66.15. The stock has a market capitalization of $265.29 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.22 and a beta of 1.18. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly 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. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

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.