Eqis Capital Management Inc. raised its stake in Wells Fargo & Co (NYSE:WFC) by 93.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,342 shares of the financial services provider’s stock after purchasing an additional 8,858 shares during the period. Eqis Capital Management Inc.’s holdings in Wells Fargo & Co were worth $845,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. increased its position in shares of Wells Fargo & Co by 3.6% during the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 6,600 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 229 shares in the last quarter. Kiley Juergens Wealth Management LLC increased its position in shares of Wells Fargo & Co by 2.7% during the 4th quarter. Kiley Juergens Wealth Management LLC now owns 11,242 shares of the financial services provider’s stock worth $518,000 after purchasing an additional 295 shares in the last quarter. Rossmore Private Capital increased its position in shares of Wells Fargo & Co by 1.1% during the 4th quarter. Rossmore Private Capital now owns 29,313 shares of the financial services provider’s stock worth $1,351,000 after purchasing an additional 330 shares in the last quarter. Waldron Private Wealth LLC increased its position in shares of Wells Fargo & Co by 4.9% during the 3rd quarter. Waldron Private Wealth LLC now owns 7,577 shares of the financial services provider’s stock worth $398,000 after purchasing an additional 356 shares in the last quarter. Finally, Mercer Capital Advisers Inc. increased its position in shares of Wells Fargo & Co by 81.3% during the 4th quarter. Mercer Capital Advisers Inc. now owns 1,171 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 525 shares in the last quarter. 72.89% of the stock is owned by hedge funds and other institutional investors.

WFC opened at $48.91 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $238.57 billion, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.88 and a beta of 1.11. Wells Fargo & Co has a 1-year low of $43.02 and a 1-year high of $65.53.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings data on Tuesday, January 15th. The financial services provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.04. The firm had revenue of $20.98 billion during the quarter, compared to analysts’ expectations of $21.80 billion. Wells Fargo & Co had a net margin of 22.95% and a return on equity of 13.34%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.16 EPS. As a group, equities research analysts forecast that Wells Fargo & Co will post 4.97 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.68%. The ex-dividend date is Thursday, January 31st. This is a boost from Wells Fargo & Co’s previous quarterly dividend of $0.43. Wells Fargo & Co’s dividend payout ratio (DPR) is presently 41.10%.

Wells Fargo & Co announced that its board has authorized a stock repurchase plan on Tuesday, October 23rd that authorizes the company to repurchase 350,000,000 shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

A number of brokerages recently issued reports on WFC. Zacks Investment Research cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Saturday, January 12th. Credit Suisse Group reiterated a “hold” rating and set a $60.00 target price on shares of Wells Fargo & Co in a research report on Friday, January 11th. ValuEngine cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research report on Thursday, January 10th. Wolfe Research cut shares of Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 8th. Finally, Robert W. Baird reiterated a “buy” rating and set a $59.00 target price on shares of Wells Fargo & Co in a research report on Wednesday, January 2nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $61.93.

ILLEGAL ACTIVITY NOTICE: This report was published by Daily Political and is the property of of Daily Political. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://www.dailypolitical.com/2019/02/03/eqis-capital-management-inc-raises-holdings-in-wells-fargo-co-wfc.html.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

Recommended Story: Understanding Analyst Ratings

Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.