Keystone Wealth Services LLC Acquires 2,131 Shares of Wells Fargo & Company (NYSE:WFC)

Keystone Wealth Services LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 6.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,185 shares of the financial services provider’s stock after purchasing an additional 2,131 shares during the period. Keystone Wealth Services LLC’s holdings in Wells Fargo & Company were worth $1,781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Artemis Investment Management LLP grew its stake in Wells Fargo & Company by 87.8% in the 4th quarter. Artemis Investment Management LLP now owns 3,314,853 shares of the financial services provider’s stock worth $163,160,000 after buying an additional 1,549,979 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its stake in Wells Fargo & Company by 1.4% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,401,538 shares of the financial services provider’s stock worth $68,984,000 after buying an additional 19,705 shares in the last quarter. Sendero Wealth Management LLC grew its stake in Wells Fargo & Company by 145.2% in the 4th quarter. Sendero Wealth Management LLC now owns 92,754 shares of the financial services provider’s stock worth $4,565,000 after buying an additional 54,932 shares in the last quarter. Bill Few Associates Inc. purchased a new position in Wells Fargo & Company in the 4th quarter worth approximately $228,000. Finally, Tributary Capital Management LLC grew its stake in Wells Fargo & Company by 11.4% in the 4th quarter. Tributary Capital Management LLC now owns 9,750 shares of the financial services provider’s stock worth $480,000 after buying an additional 1,000 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 0.1 %

Shares of NYSE:WFC opened at $56.69 on Wednesday. Wells Fargo & Company has a 1 year low of $36.27 and a 1 year high of $58.44. The firm has a market capitalization of $200.71 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.88 and a quick ratio of 0.88. The business’s 50 day moving average price is $52.58 and its 200-day moving average price is $46.83.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The business had revenue of $20.48 billion for the quarter, compared to analysts’ expectations of $20.30 billion. During the same quarter last year, the business earned $0.67 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.05%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WFC shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday. Odeon Capital Group lowered shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, March 19th. The Goldman Sachs Group raised their price target on shares of Wells Fargo & Company from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, December 1st. Finally, Raymond James raised their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Twelve research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $54.31.

Wells Fargo & Company 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.