1,050 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by TRU Independence Asset Management 2 LLC

TRU Independence Asset Management 2 LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,050 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other large investors have also modified their holdings of the stock. Encompass Wealth Advisors LLC bought a new position in Wells Fargo & Company in the fourth quarter worth approximately $32,000. Childress Capital Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth $215,000. tru Independence LLC grew its holdings in Wells Fargo & Company by 105.9% in the fourth quarter. tru Independence LLC now owns 6,027 shares of the financial services provider’s stock worth $52,943,000 after purchasing an additional 3,100 shares during the last quarter. Tealwood Asset Management Inc. grew its holdings in Wells Fargo & Company by 4.2% in the fourth quarter. Tealwood Asset Management Inc. now owns 24,534 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Alliance Wealth Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter worth $275,000. 67.25% of the stock is owned by institutional investors.

Shares of Wells Fargo & Company stock opened at $39.99 on Thursday. Wells Fargo & Company has a 1 year low of $20.76 and a 1 year high of $41.54. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.87. The company has a market capitalization of $165.32 billion, a P/E ratio of 108.08, a PEG ratio of 4.84 and a beta of 1.07. The company’s fifty day moving average is $38.49 and its two-hundred day moving average is $30.39.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Thursday, January 14th. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The business had revenue of $17.93 billion for the quarter, compared to the consensus estimate of $18 billion. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 earnings per share. As a group, equities analysts expect that Wells Fargo & Company will post 0.48 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Friday, February 5th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, February 4th. Wells Fargo & Company’s dividend payout ratio (DPR) is 9.13%.

A number of research analysts have weighed in on the stock. Oppenheimer reiterated a “hold” rating on shares of Wells Fargo & Company in a research report on Tuesday, January 19th. JPMorgan Chase & Co. upgraded shares of Wells Fargo & Company from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $31.50 to $37.00 in a research report on Thursday, February 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Wells Fargo & Company from $35.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, April 1st. UBS Group raised shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 12th. Finally, Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $43.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, March 15th. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.00.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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

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