SVB Wealth LLC Purchases 1,599 Shares of Wells Fargo & Company (NYSE:WFC)

SVB Wealth LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,128 shares of the financial services provider’s stock after purchasing an additional 1,599 shares during the quarter. SVB Wealth LLC’s holdings in Wells Fargo & Company were worth $3,009,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Wells Fargo & Company during the fourth quarter worth about $2,049,693,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Wells Fargo & Company by 129,312.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after acquiring an additional 26,267,166 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Wells Fargo & Company by 1,478.6% during the first quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after purchasing an additional 7,859,100 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in shares of Wells Fargo & Company in the first quarter worth $345,861,000. Finally, Imprint Wealth LLC raised its holdings in Wells Fargo & Company by 4,238.0% during the second quarter. Imprint Wealth LLC now owns 4,284,901 shares of the financial services provider’s stock valued at $428,490,000 after acquiring an additional 4,186,124 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.4 %

NYSE:WFC opened at $57.18 on Thursday. The firm has a market capitalization of $202.44 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.19. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $58.44. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The stock has a 50 day moving average of $55.42 and a 200-day moving average of $48.61.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. The business had revenue of $20.86 billion during 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 company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 earnings per share. Analysts predict that Wells Fargo & Company will post 5.04 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Analyst Ratings Changes

Several equities analysts have recently commented on WFC shares. Argus boosted their target price on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 price target (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Jefferies Financial Group lifted their target price on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Robert W. Baird restated a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research report on Monday, January 8th. Finally, The Goldman Sachs Group increased their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and an average price target of $58.85.

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.