BerganKDV Wealth Management LLC raised its holdings in Wells Fargo & Co (NYSE:WFC) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 132,551 shares of the financial services provider’s stock after buying an additional 849 shares during the quarter. Wells Fargo & Co comprises 1.4% of BerganKDV Wealth Management LLC’s holdings, making the stock its 12th largest position. BerganKDV Wealth Management LLC’s holdings in Wells Fargo & Co were worth $6,108,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Mercer Capital Advisers Inc. grew its holdings in Wells Fargo & Co by 81.3% during the fourth quarter. Mercer Capital Advisers Inc. now owns 1,171 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 525 shares during the period. Ruggie Capital Group acquired a new stake in Wells Fargo & Co during the fourth quarter worth about $80,000. Sageworth Trust Co grew its holdings in Wells Fargo & Co by 257.9% during the third quarter. Sageworth Trust Co now owns 2,151 shares of the financial services provider’s stock worth $113,000 after acquiring an additional 1,550 shares during the period. JJJ Advisors Inc. acquired a new stake in Wells Fargo & Co during the fourth quarter worth about $102,000. Finally, Lee Financial Co grew its holdings in Wells Fargo & Co by 433.4% during the third quarter. Lee Financial Co now owns 2,507 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 2,037 shares during the period. Institutional investors own 71.44% of the company’s stock.
Several research firms recently commented on WFC. Credit Suisse Group dropped their target price on Wells Fargo & Co from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, December 7th. Zacks Investment Research raised Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Sunday, January 6th. ValuEngine lowered Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Thursday, January 10th. Wolfe Research lowered Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 8th. Finally, Barclays dropped their price objective on Wells Fargo & Co from $66.00 to $64.00 and set an “overweight” rating on the stock in a report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. Wells Fargo & Co presently has a consensus rating of “Hold” and a consensus target price of $61.33.
Shares of NYSE WFC traded up $0.31 during midday trading on Friday, hitting $50.66. The stock had a trading volume of 46,117,320 shares, compared to its average volume of 20,169,615. The company has a market cap of $242.18 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 0.90 and a beta of 1.12. Wells Fargo & Co has a 1 year low of $43.02 and a 1 year high of $59.53. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.88 and a quick ratio of 0.87.
Wells Fargo & Co (NYSE:WFC) last released its earnings results on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.04. The business had revenue of $20.98 billion for the quarter, compared to the consensus estimate of $21.80 billion. Wells Fargo & Co had a return on equity of 13.34% and a net margin of 22.95%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 earnings per share. On average, equities research analysts anticipate that Wells Fargo & Co will post 4.96 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, January 31st. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.43. Wells Fargo & Co’s dividend payout ratio (DPR) is 41.10%.
About Wells Fargo & Co
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
Featured Story: The benefits and drawbacks of dollar cost averaging
Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.