Allen Capital Group LLC Invests $261,000 in Wells Fargo & Company (NYSE:WFC)

Allen Capital Group LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,311 shares of the financial services provider’s stock, valued at approximately $261,000.

A number of other large investors have also recently bought and sold shares of WFC. First Financial Corp IN raised its holdings in shares of Wells Fargo & Company by 4.9% in the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after buying an additional 214 shares during the last quarter. CX Institutional raised its stake in shares of Wells Fargo & Company by 1.1% in the fourth quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock worth $998,000 after acquiring an additional 217 shares during the last quarter. ERTS Wealth Advisors LLC lifted its position in shares of Wells Fargo & Company by 3.5% during the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 228 shares in the last quarter. Prio Wealth Limited Partnership grew its stake in shares of Wells Fargo & Company by 1.7% during the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock valued at $704,000 after purchasing an additional 233 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Wells Fargo & Company by 19.1% in the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 244 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of several research reports. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a report on Thursday, January 18th. Raymond James lifted their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 16th. Argus upped their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the company a “buy” rating in a research report on Monday. Robert W. Baird reiterated a “neutral” rating and set a $55.00 price target on shares of Wells Fargo & Company in a research report on Monday, January 8th. Finally, Citigroup restated a “neutral” rating and issued a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Thirteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Stock Down 1.0 %

Shares of Wells Fargo & Company stock opened at $56.41 on Wednesday. Wells Fargo & Company has a 52-week low of $36.40 and a 52-week high of $58.44. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The business’s 50 day simple moving average is $55.25 and its 200 day simple moving average is $48.55. The firm has a market cap of $199.71 billion, a PE ratio of 11.77, a P/E/G ratio of 1.15 and a beta of 1.19.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion for the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.23 earnings per share. On average, analysts predict that Wells Fargo & Company will post 4.86 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 2nd were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.48%. The ex-dividend date was Thursday, February 1st. 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.