Steel Peak Wealth Management LLC purchased a new position in shares of Wells Fargo & Co (NYSE:WFC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,939 shares of the financial services provider’s stock, valued at approximately $750,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. NuWave Investment Management LLC raised its stake in shares of Wells Fargo & Co by 122.3% in the 3rd quarter. NuWave Investment Management LLC now owns 798 shares of the financial services provider’s stock worth $39,000 after buying an additional 439 shares in the last quarter. Confluence Investment Management LLC bought a new stake in shares of Wells Fargo & Co in the 3rd quarter worth $202,000. First Command Financial Services Inc. raised its stake in shares of Wells Fargo & Co by 14.0% in the 3rd quarter. First Command Financial Services Inc. now owns 6,908 shares of the financial services provider’s stock worth $349,000 after buying an additional 850 shares in the last quarter. Strategic Blueprint LLC bought a new stake in shares of Wells Fargo & Co in the 3rd quarter worth $88,000. Finally, Advisor Partners LLC raised its stake in shares of Wells Fargo & Co by 36.2% in the 3rd quarter. Advisor Partners LLC now owns 112,043 shares of the financial services provider’s stock worth $5,651,000 after buying an additional 29,793 shares in the last quarter. 75.69% of the stock is currently owned by institutional investors.

NYSE WFC traded up $0.11 on Friday, reaching $48.23. The stock had a trading volume of 9,464,366 shares, compared to its average volume of 20,914,293. The business has a 50 day moving average price of $50.12 and a 200 day moving average price of $50.11. The company has a current ratio of 0.87, a quick ratio of 0.85 and a debt-to-equity ratio of 1.37. Wells Fargo & Co has a 1 year low of $43.34 and a 1 year high of $54.75. The company has a market capitalization of $202.04 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 1.09 and a beta of 1.12.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Tuesday, January 14th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.17). Wells Fargo & Co had a net margin of 18.81% and a return on equity of 12.11%. The firm had revenue of $19.86 billion during the quarter, compared to analysts’ expectations of $20.11 billion. During the same quarter last year, the firm earned $1.21 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts anticipate that Wells Fargo & Co will post 4.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 7th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $2.04 dividend on an annualized basis and a yield of 4.23%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 46.58%.

A number of analysts have recently commented on WFC shares. UBS Group dropped their price objective on Wells Fargo & Co from $52.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Credit Suisse Group dropped their price objective on Wells Fargo & Co from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. TheStreet downgraded Wells Fargo & Co from a “b” rating to a “c+” rating in a research note on Wednesday. Barclays downgraded Wells Fargo & Co from an “overweight” rating to an “equal weight” rating and set a $59.00 price objective on the stock. in a research note on Monday, January 6th. Finally, Citigroup boosted their price objective on Wells Fargo & Co from $48.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Seven investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $49.88.

About Wells Fargo & Co

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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