Syon Capital LLC Purchases 1,685 Shares of Wells Fargo & Company (NYSE:WFC)

Syon Capital LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 10.3% during the 4th quarter, Holdings Channel reports. The fund owned 18,015 shares of the financial services provider’s stock after buying an additional 1,685 shares during the period. Syon Capital LLC’s holdings in Wells Fargo & Company were worth $887,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Wells Fargo & Company in the 4th quarter worth $2,623,044,000. LSV Asset Management raised its holdings in Wells Fargo & Company by 40.4% during the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after buying an additional 2,677,050 shares during the last quarter. Morningstar Investment Services LLC lifted its stake in shares of Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after buying an additional 1,951,477 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Wells Fargo & Company by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after buying an additional 1,729,132 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of Wells Fargo & Company by 91.5% during the fourth quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock worth $172,426,000 after acquiring an additional 1,673,917 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC traded up $0.13 during trading hours on Friday, hitting $57.40. The stock had a trading volume of 15,375,353 shares, compared to its average volume of 14,025,280. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The company’s fifty day simple moving average is $59.38 and its 200 day simple moving average is $54.18. The stock has a market cap of $200.11 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17. 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 (NYSE:WFC) last issued its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the business earned $1.23 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.44%. Wells Fargo & Company’s payout ratio is 29.23%.

Analyst Ratings Changes

Several brokerages recently weighed in on WFC. Evercore ISI raised their price target on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Monday, April 15th. Argus increased their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 15th. Jefferies Financial Group boosted their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Fourteen research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.99.

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.