Turtle Creek Wealth Advisors LLC Acquires 5,731 Shares of Wells Fargo & Company $WFC

Turtle Creek Wealth Advisors LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 69.5% during the 3rd quarter, Holdings Channel reports. The firm owned 13,973 shares of the financial services provider’s stock after purchasing an additional 5,731 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Wells Fargo & Company were worth $1,171,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Access Investment Management LLC purchased a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $25,000. McElhenny Sheffield Capital Management LLC bought a new position in Wells Fargo & Company in the second quarter valued at $27,000. Marquette Asset Management LLC raised its position in Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 274 shares in the last quarter. Kilter Group LLC bought a new stake in Wells Fargo & Company during the second quarter worth about $31,000. Finally, Aventus Investment Advisors Inc. bought a new stake in Wells Fargo & Company during the third quarter worth about $37,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Trading Down 0.7%

WFC opened at $88.36 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76. The stock has a market cap of $277.37 billion, a PE ratio of 14.09, a PEG ratio of 0.81 and a beta of 1.09. The business has a 50 day moving average of $90.21 and a 200-day moving average of $84.89.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company had revenue of $21.29 billion during the quarter, compared to analyst estimates of $21.63 billion. During the same period last year, the business earned $1.43 EPS. Wells Fargo & Company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.0%. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WFC shares. TD Cowen dropped their target price on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. Evercore ISI lowered their price objective on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, January 15th. Weiss Ratings raised shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research report on Wednesday, December 17th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.87.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.