Hurley Capital LLC Purchases Shares of 581 Wells Fargo & Company (NYSE:WFC)

Hurley Capital LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 581 shares of the financial services provider’s stock, valued at approximately $43,000.

Other hedge funds have also modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $26,000. Modus Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $30,000. McClarren Financial Advisors Inc. bought a new position in Wells Fargo & Company in the fourth quarter valued at $30,000. Rakuten Securities Inc. increased its stake in Wells Fargo & Company by 126.7% in the 4th quarter. Rakuten Securities Inc. now owns 424 shares of the financial services provider’s stock valued at $30,000 after buying an additional 237 shares during the last quarter. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup cut their price objective on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research note on Thursday, January 16th. Bank of America reduced their target price on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Thursday, March 13th. Finally, Morgan Stanley set a $79.00 price objective on shares of Wells Fargo & Company in a research report on Monday, March 24th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $60.91 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07. The company has a market cap of $198.89 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The company has a 50 day moving average of $74.93 and a 200-day moving average of $70.56. Wells Fargo & Company has a 1-year low of $50.15 and a 1-year high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Shareholders of record on Tuesday, January 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is presently 29.74%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.