Relyea Zuckerberg Hanson LLC Grows Position in Wells Fargo & Company (NYSE:WFC)

Relyea Zuckerberg Hanson LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,853 shares of the financial services provider’s stock after buying an additional 478 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Wells Fargo & Company were worth $481,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Mattson Financial Services LLC acquired a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company in the second quarter valued at approximately $26,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company during the third quarter worth $29,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter worth $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE:WFC traded down $0.01 during mid-day trading on Friday, reaching $75.95. 2,904,518 shares of the stock were exchanged, compared to its average volume of 15,347,960. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13. The company has a 50 day simple moving average of $72.47 and a 200-day simple moving average of $63.24. The stock has a market capitalization of $252.86 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 EPS. Wells Fargo & Company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that Wells Fargo & Company will post 5.45 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 Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 33.26%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Phillip Securities upgraded Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and raised their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price on the stock in a research note on Tuesday, October 8th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup boosted their target price on Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Finally, Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.17.

Wells Fargo & 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.