KLCM Advisors Inc. Purchases 7,288 Shares of Wells Fargo & Company (NYSE:WFC)

KLCM Advisors Inc. grew its position in Wells Fargo & Company (NYSE:WFC) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 436,203 shares of the financial services provider’s stock after purchasing an additional 7,288 shares during the quarter. Wells Fargo & Company makes up 3.3% of KLCM Advisors Inc.’s investment portfolio, making the stock its 5th largest position. KLCM Advisors Inc.’s holdings in Wells Fargo & Company were worth $21,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Tyche Wealth Partners LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth $505,000. Allen Capital Group LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at about $261,000. Wealth Alliance boosted its holdings in shares of Wells Fargo & Company by 8.3% in the fourth quarter. Wealth Alliance now owns 15,602 shares of the financial services provider’s stock valued at $768,000 after acquiring an additional 1,197 shares in the last quarter. Main Street Research LLC boosted its holdings in shares of Wells Fargo & Company by 4.0% in the fourth quarter. Main Street Research LLC now owns 20,358 shares of the financial services provider’s stock valued at $1,002,000 after acquiring an additional 780 shares in the last quarter. Finally, Octavia Wealth Advisors LLC purchased a new stake in Wells Fargo & Company during the fourth quarter worth about $230,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Down 1.0 %

Shares of NYSE:WFC traded down $0.56 during trading on Wednesday, reaching $56.41. The stock had a trading volume of 25,620,002 shares, compared to its average volume of 14,756,598. Wells Fargo & Company has a fifty-two week low of $36.40 and a fifty-two week high of $58.44. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The business has a fifty day moving average price of $55.25 and a 200-day moving average price of $48.55. The stock has a market cap of $199.71 billion, a P/E ratio of 11.78, a PEG ratio of 1.15 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts anticipate that Wells Fargo & Company will post 4.86 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.48%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WFC. Barclays boosted their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley lifted their target price on shares of Wells Fargo & Company from $63.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday. Finally, Argus lifted their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday. Thirteen equities research 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 stock. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus price target of $58.85.

About Wells Fargo & Company

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.