3,378 Shares in Wells Fargo & Company $WFC Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 3,378 shares of the financial services provider’s stock, valued at approximately $271,000.

A number of other hedge funds have also recently made changes to their positions in WFC. Access Investment Management LLC purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $25,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares during the last quarter. Accent Capital Management LLC purchased a new position in Wells Fargo & Company in the 1st quarter worth approximately $29,000. Finally, Motco increased its stake in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $86.06 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a one year low of $58.42 and a one year high of $88.50. The stock’s fifty day moving average is $83.17 and its 200 day moving average is $79.11. The stock has a market cap of $275.69 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the prior year, the company posted $1.42 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on WFC shares. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, October 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Citigroup raised their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Finally, Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & 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.