Concord Asset Management LLC VA Purchases 1,542 Shares of Wells Fargo & Company (NYSE:WFC)

Concord Asset Management LLC VA lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 29.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,721 shares of the financial services provider’s stock after purchasing an additional 1,542 shares during the quarter. Concord Asset Management LLC VA’s holdings in Wells Fargo & Company were worth $472,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Income Research & Management bought a new stake in shares of Wells Fargo & Company in the 3rd quarter worth about $211,000. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $25,000. Modus Advisors LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Wells Fargo & Company during the second quarter worth $26,000. Finally, Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth about $32,000. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on WFC. Barclays boosted their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. UBS Group boosted 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 raised their price target on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research note on Thursday, January 16th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Wolfe Research raised shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Tuesday, October 8th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Trading Down 0.0 %

Shares of Wells Fargo & Company stock opened at $78.81 on Friday. Wells Fargo & Company has a 12-month low of $47.45 and a 12-month high of $79.29. The firm’s 50 day simple moving average is $73.59 and its two-hundred day simple moving average is $64.72. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $262.40 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 1.18 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 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. Analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

About Wells Fargo & Company

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.