Colonial River Investments LLC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Colonial River Investments LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,537 shares of the financial services provider’s stock after buying an additional 730 shares during the period. Colonial River Investments LLC’s holdings in Wells Fargo & Company were worth $1,021,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hennion & Walsh Asset Management Inc. purchased a new position in Wells Fargo & Company in the third quarter valued at $637,000. Assenagon Asset Management S.A. boosted its holdings in Wells Fargo & Company by 8.3% in the third quarter. Assenagon Asset Management S.A. now owns 96,400 shares of the financial services provider’s stock valued at $5,446,000 after purchasing an additional 7,415 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Wells Fargo & Company by 14.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 296,708 shares of the financial services provider’s stock valued at $15,740,000 after purchasing an additional 38,532 shares during the period. Arkadios Wealth Advisors boosted its holdings in Wells Fargo & Company by 19.5% in the third quarter. Arkadios Wealth Advisors now owns 19,801 shares of the financial services provider’s stock valued at $1,119,000 after purchasing an additional 3,228 shares during the period. Finally, Modera Wealth Management LLC boosted its holdings in Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 167 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Down 1.5 %

WFC opened at $77.43 on Monday. The business has a 50 day moving average price of $75.20 and a two-hundred day moving average price of $67.11. 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 company has a market cap of $257.81 billion, a PE ratio of 14.39, a P/E/G ratio of 1.18 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (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 previous year, the firm posted $0.86 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Analyst Ratings Changes

WFC has been the subject of a number of recent research reports. Citigroup lifted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. UBS Group raised their price target on Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Barclays raised their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Morgan Stanley raised their price target on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI raised their price target on Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.