Wells Fargo & Company $WFC Stock Holdings Increased by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 179.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,515 shares of the financial services provider’s stock after buying an additional 6,112 shares during the quarter. Phillips Wealth Planners LLC’s holdings in Wells Fargo & Company were worth $768,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Hilton Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter worth about $3,656,000. Mawer Investment Management Ltd. bought a new stake in Wells Fargo & Company during the third quarter valued at about $147,165,000. Guerra Advisors Inc grew its position in shares of Wells Fargo & Company by 43.2% in the third quarter. Guerra Advisors Inc now owns 38,439 shares of the financial services provider’s stock valued at $3,222,000 after purchasing an additional 11,594 shares during the last quarter. AlphaQuest LLC grew its position in shares of Wells Fargo & Company by 1,121.0% in the third quarter. AlphaQuest LLC now owns 24,079 shares of the financial services provider’s stock valued at $2,018,000 after purchasing an additional 22,107 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Wells Fargo & Company by 54.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 38,088 shares of the financial services provider’s stock worth $3,224,000 after purchasing an additional 13,393 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on WFC shares. Barclays raised their price objective on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. UBS Group reaffirmed a “buy” rating and issued a $113.00 price target on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Royal Bank Of Canada restated an “outperform” rating and set a $100.00 price objective on shares of Wells Fargo & Company in a research report on Thursday, January 15th. HSBC reaffirmed a “hold” rating and issued a $74.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Finally, Keefe, Bruyette & Woods boosted 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 report on Wednesday, December 17th. Thirteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Wells Fargo & Company Stock Up 0.8%

WFC opened at $86.94 on Monday. The firm has a market cap of $272.92 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.95 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The firm’s 50-day simple moving average is $91.80 and its 200-day simple moving average is $85.93. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share 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 firm had revenue of $11.97 billion for the quarter, compared to analysts’ expectations of $21.63 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Wells Fargo & Company Company Profile

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.