Wells Fargo & Company (NYSE:WFC) Stake Increased by Quadrant Capital Group LLC

Quadrant Capital Group LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 61.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,268 shares of the financial services provider's stock after acquiring an additional 15,742 shares during the quarter. Quadrant Capital Group LLC's holdings in Wells Fargo & Company were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC purchased a new position in Wells Fargo & Company in the third quarter worth $25,000. Arlington Trust Co LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. grew its position in Wells Fargo & Company by 208.0% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider's stock valued at $26,000 after buying an additional 356,620 shares during the period. Tennessee Valley Asset Management Partners bought a new position in Wells Fargo & Company during the fourth quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. purchased a new stake in Wells Fargo & Company during the fourth quarter worth about $32,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded up $0.02 during midday trading on Friday, hitting $61.08. 15,545,690 shares of the company's stock were exchanged, compared to its average volume of 18,694,389. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The business's fifty day moving average price is $58.64 and its two-hundred day moving average price is $51.55. The company has a market cap of $212.94 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.20 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analysts' expectations of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. As a group, research analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.29%. Wells Fargo & Company's dividend payout ratio is presently 29.23%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WFC shares. The Goldman Sachs Group boosted their target price on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a "buy" rating in a research note on Monday, April 1st. Odeon Capital Group downgraded Wells Fargo & Company from a "buy" rating to a "hold" rating and set a $48.80 target price for the company. in a research report on Thursday, January 18th. Evercore ISI upped their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, March 28th. Compass Point reiterated a "neutral" rating and set a $64.00 price target on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. Finally, Argus boosted their price objective on Wells Fargo & Company from $57.00 to $66.00 and gave the company a "buy" rating in a research note on Monday, April 15th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $58.99.

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.