Gallacher Capital Management LLC Buys 902 Shares of Wells Fargo & Company (NYSE:WFC)

Gallacher Capital Management LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 10.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,192 shares of the financial services provider’s stock after acquiring an additional 902 shares during the quarter. Gallacher Capital Management LLC’s holdings in Wells Fargo & Company were worth $646,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Zions Bancorporation N.A. lifted its holdings in shares of Wells Fargo & Company by 4.7% during the 3rd quarter. Zions Bancorporation N.A. now owns 6,977 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 311 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Wells Fargo & Company by 3.6% during the 3rd quarter. CIBC Asset Management Inc now owns 579,985 shares of the financial services provider’s stock worth $32,763,000 after acquiring an additional 20,053 shares during the period. Sheaff Brock Investment Advisors LLC lifted its stake in Wells Fargo & Company by 5.9% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 21,681 shares of the financial services provider’s stock worth $1,225,000 after purchasing an additional 1,202 shares during the last quarter. Empowered Funds LLC lifted its stake in Wells Fargo & Company by 13.6% during the third quarter. Empowered Funds LLC now owns 159,820 shares of the financial services provider’s stock worth $9,028,000 after purchasing an additional 19,114 shares during the last quarter. Finally, Coastline Trust Co lifted its stake in Wells Fargo & Company by 17.1% during the third quarter. Coastline Trust Co now owns 6,172 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 900 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of WFC opened at $70.96 on Friday. 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 has a 1 year low of $50.15 and a 1 year high of $81.50. The business has a 50-day moving average of $75.89 and a 200-day moving average of $68.93. The company has a market capitalization of $233.31 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly 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 net margin of 15.73% and a return on equity of 12.38%. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. During the same quarter last year, the business earned $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WFC shares. Compass Point upped their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods increased their target price on shares of 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 raised shares of Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Thursday. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, UBS Group increased their price objective 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. Ten investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.39.

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.