Tranquility Partners LLC Purchases New Position in Wells Fargo & Company $WFC

Tranquility Partners LLC purchased a new position in Wells Fargo & Company (NYSE:WFCFree Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,374 shares of the financial services provider’s stock, valued at approximately $618,000.

A number of other hedge funds also recently bought and sold shares of WFC. Hilton Capital Management LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter worth about $3,656,000. Three Bridge Wealth Advisors LLC acquired a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $364,000. Board of the Pension Protection Fund purchased a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $40,000. Synergy Asset Management LLC acquired a new stake in shares of Wells Fargo & Company in the third quarter worth approximately $10,729,000. Finally, Guggenheim Capital LLC increased its position in shares of Wells Fargo & Company by 13.2% during the second quarter. Guggenheim Capital LLC now owns 406,303 shares of the financial services provider’s stock worth $32,553,000 after purchasing an additional 47,257 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on WFC. Citigroup raised their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Evercore ISI reduced their target price on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Keefe, Bruyette & Woods raised their price target on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Finally, Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $94.87.

View Our Latest Research Report on Wells Fargo & Company

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $86.65 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $90.22 and a 200 day moving average price of $84.91. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $97.76. The stock has a market cap of $271.99 billion, a P/E ratio of 13.82, a PEG ratio of 0.82 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business had revenue of $21.29 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same quarter last year, the firm earned $1.43 EPS. The business’s revenue was up 4.5% 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

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About Wells Fargo & Company

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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

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