Stordahl Capital Management Inc. Takes Position in Wells Fargo & Company (NYSE:WFC)

Stordahl Capital Management Inc. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, Holdings Channel reports. The firm purchased 3,934 shares of the financial services provider’s stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WFC. Two Sigma Advisers LP lifted its holdings in shares of Wells Fargo & Company by 730.4% during the third quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock worth $336,375,000 after purchasing an additional 5,237,500 shares during the period. Canoe Financial LP purchased a new position in Wells Fargo & Company during the 3rd quarter worth $160,529,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Wells Fargo & Company by 158.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,709,659 shares of the financial services provider’s stock worth $153,069,000 after acquiring an additional 1,659,716 shares during the period. Artemis Investment Management LLP increased its stake in shares of Wells Fargo & Company by 410.8% during the fourth quarter. Artemis Investment Management LLP now owns 1,374,812 shares of the financial services provider’s stock worth $96,567,000 after acquiring an additional 1,105,679 shares during the period. Finally, National Pension Service boosted its holdings in Wells Fargo & Company by 15.2% in the 3rd quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after purchasing an additional 897,195 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $78.41 on Thursday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $261.07 billion, a PE ratio of 14.57, a P/E/G ratio of 1.17 and a beta of 1.18. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.98. The company’s 50 day simple moving average is $73.35 and its 200 day simple moving average is $64.38.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.74%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays upped their price objective on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, January 16th. UBS Group increased their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised their price objective on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $73.39.

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.