4,123 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 4th quarter, HoldingsChannel reports. The fund purchased 4,123 shares of the financial services provider’s stock, valued at approximately $203,000.

Several other hedge funds have also modified their holdings of WFC. Norges Bank purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at about $2,049,693,000. Moneta Group Investment Advisors LLC lifted its position in shares of Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock valued at $1,085,410,000 after buying an additional 26,267,166 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Wells Fargo & Company by 1,478.6% during the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after buying an additional 7,859,100 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Wells Fargo & Company during the first quarter valued at about $345,861,000. Finally, Imprint Wealth LLC lifted its position in shares of Wells Fargo & Company by 4,238.0% during the second quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock valued at $428,490,000 after buying an additional 4,186,124 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WFC has been the subject of several analyst reports. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a research report on Monday, January 8th. Evercore ISI increased their price objective 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. Barclays increased their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $57.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $58.85.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $60.35 on Friday. Wells Fargo & Company has a twelve month low of $36.40 and a twelve month high of $60.85. The company’s 50 day moving average is $55.88 and its 200 day moving average is $48.89. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The company has a market cap of $213.66 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19.

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 company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same quarter in the prior year, the company earned $1.23 EPS. Wells Fargo & Company’s quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that Wells Fargo & Company will post 5.06 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.32%. Wells Fargo & Company’s payout ratio is 29.23%.

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.