Quantessence Capital LLC Buys Shares of 39,939 Wells Fargo & Company (NYSE:WFC)

Quantessence Capital LLC acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 39,939 shares of the financial services provider's stock, valued at approximately $2,805,000. Wells Fargo & Company comprises 1.2% of Quantessence Capital LLC's portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds have also recently made changes to their positions in the stock. Morse Asset Management Inc acquired a new position in Wells Fargo & Company during the 3rd quarter worth $487,000. Tudor Financial Inc. acquired a new position in shares of Wells Fargo & Company during the third quarter worth about $468,000. Anchor Investment Management LLC increased its stake in shares of Wells Fargo & Company by 5.5% during the third quarter. Anchor Investment Management LLC now owns 15,903 shares of the financial services provider's stock worth $898,000 after buying an additional 836 shares during the period. World Investment Advisors LLC raised its holdings in Wells Fargo & Company by 1,263.8% in the third quarter. World Investment Advisors LLC now owns 75,432 shares of the financial services provider's stock valued at $4,261,000 after acquiring an additional 69,901 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Wells Fargo & Company by 4.5% in the third quarter. Tidal Investments LLC now owns 138,813 shares of the financial services provider's stock worth $7,842,000 after acquiring an additional 5,946 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock traded up $0.16 on Friday, reaching $69.72. 17,768,814 shares of the stock were exchanged, compared to its average volume of 17,467,036. The firm has a market capitalization of $227.65 billion, a PE ratio of 12.96, a PEG ratio of 1.18 and a beta of 1.02. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50. The business has a fifty day moving average price of $70.01 and a two-hundred day moving average price of $71.43. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.16. The company had revenue of $20.15 billion for the quarter, compared to analysts' expectations of $20.82 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company's dividend payout ratio (DPR) is 28.73%.

Analysts Set New Price Targets

WFC has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Wells Fargo & Company from $92.00 to $87.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Morgan Stanley raised their target price on Wells Fargo & Company from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, April 7th. Citigroup lowered their price target on Wells Fargo & Company from $82.00 to $78.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Raymond James reduced their price objective on shares of Wells Fargo & Company from $88.00 to $78.00 and set a "strong-buy" rating for the company in a research report on Monday, April 14th. Finally, Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and an average price target of $75.34.

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.