Xponance Inc. Grows Stake in Wells Fargo & Company (NYSE:WFC)

Xponance Inc. grew its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 547,922 shares of the financial services provider's stock after purchasing an additional 30,874 shares during the period. Xponance Inc.'s holdings in Wells Fargo & Company were worth $26,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Financial Corp IN raised its position in Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider's stock valued at $226,000 after purchasing an additional 214 shares during the period. CX Institutional raised its position in Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider's stock valued at $998,000 after purchasing an additional 217 shares during the period. ERTS Wealth Advisors LLC raised its position in Wells Fargo & Company by 3.5% in the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider's stock valued at $331,000 after purchasing an additional 228 shares during the period. Prio Wealth Limited Partnership raised its position in Wells Fargo & Company by 1.7% in the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider's stock valued at $704,000 after purchasing an additional 233 shares during the period. Finally, SJS Investment Consulting Inc. raised its position in Wells Fargo & Company by 19.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 244 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the topic of several research analyst reports. Evercore ISI boosted their price objective on Wells Fargo & Company from $58.00 to $67.00 and gave the company an "outperform" rating in a report on Thursday, March 28th. Barclays boosted their price objective on Wells Fargo & Company from $54.00 to $66.00 and gave the company an "overweight" rating in a report on Tuesday, January 2nd. Odeon Capital Group downgraded Wells Fargo & Company from a "buy" rating to a "hold" rating and set a $48.80 price objective on the stock. in a report on Thursday, January 18th. Compass Point reiterated a "neutral" rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $51.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $58.85.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC traded up $1.56 during trading hours on Thursday, reaching $58.74. The stock had a trading volume of 24,460,320 shares, compared to its average volume of 18,773,215. The firm has a market cap of $207.96 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.10 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $59.13. The firm has a 50-day moving average of $55.63 and a 200-day moving average of $48.68.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.10. The firm had revenue of $20.86 billion during the quarter, compared to analysts' expectations of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The business's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 EPS. Equities research analysts predict that Wells Fargo & Company will post 5.04 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company's dividend payout ratio (DPR) is 29.23%.

About Wells Fargo & Company

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.