Wells Fargo & Company (NYSE:WFC) Stock Position Lifted by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Wells Fargo & Company (NYSE:WFC) by 19.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,465 shares of the financial services provider’s stock after buying an additional 1,232 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Wells Fargo & Company were worth $367,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Stoneridge Investment Partners LLC boosted its holdings in Wells Fargo & Company by 410.5% during the third quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock valued at $2,757,000 after acquiring an additional 54,262 shares during the period. United Services Automobile Association raised its stake in Wells Fargo & Company by 13.7% during the third quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after acquiring an additional 11,825 shares in the last quarter. Synovus Financial Corp raised its stake in shares of Wells Fargo & Company by 61.7% in the third quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock valued at $4,983,000 after acquiring an additional 46,525 shares during the last quarter. Trust Point Inc. bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $2,499,000. Finally, WealthPlan Investment Management LLC grew its holdings in Wells Fargo & Company by 2,174.3% during the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock worth $870,000 after acquiring an additional 20,351 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Shares of WFC opened at $61.23 on Thursday. The company has a market capitalization of $213.47 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a twelve month low of $37.18 and a twelve month high of $61.76. The firm has a 50 day moving average of $57.86 and a 200 day moving average of $50.62.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share 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 business had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter last year, the company posted $1.23 EPS. The company’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a $0.35 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.29%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.23%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Compass Point reissued a “neutral” rating and issued a $64.00 target price on shares of Wells Fargo & Company in a research note on Tuesday, April 9th. The Goldman Sachs Group lifted their target price on Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $62.00 price target (up previously from $56.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 27th. Finally, Citigroup reaffirmed a “neutral” rating and set a $63.00 price target (up from $57.00) on shares of Wells Fargo & Company in a research report on Wednesday, March 20th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $58.99.

Wells Fargo & Company Profile

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.