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GSA Capital Partners LLP Makes New Investment in Wells Fargo & Company (NYSE:WFC)
GSA Capital Partners LLP bought a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,220 shares of the financial services provider’s stock, valued at approximately $422,000.
Other institutional investors also recently made changes to their positions in the company. US Asset Management LLC acquired a new stake in Wells Fargo & Company in the fourth quarter worth $28,000. FNY Investment Advisers LLC bought a new position in Wells Fargo & Company in the 4th quarter worth about $34,000. Lam Group Inc. acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $37,000. Morgan Dempsey Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $37,000. Finally, Worth Asset Management LLC acquired a new position in shares of Wells Fargo & Company during the first quarter worth approximately $40,000. 72.24% of the stock is owned by institutional investors.
Wells Fargo & Company Stock Up 2.0 %
Shares of Wells Fargo & Company stock opened at $42.08 on Thursday. Wells Fargo & Company has a 12-month low of $35.25 and a 12-month high of $48.84. The firm has a market capitalization of $157.89 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 0.84 and a beta of 1.12. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.06. The stock’s fifty day moving average is $39.63 and its 200-day moving average is $42.30.
Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings data on Friday, April 14th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.08. Wells Fargo & Company had a return on equity of 10.07% and a net margin of 15.93%. The firm had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $20.06 billion. During the same quarter in the previous year, the company earned $0.88 EPS. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. Equities analysts anticipate that Wells Fargo & Company will post 4.79 earnings per share for the current year.
Wells Fargo & Company Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 5th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $1.20 annualized dividend and a dividend yield of 2.85%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 34.38%.
Analyst Ratings Changes
Several analysts recently commented on WFC shares. Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley reduced their price objective on shares of Wells Fargo & Company from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, April 17th. StockNews.com initiated coverage on shares of Wells Fargo & Company in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Royal Bank of Canada decreased their price objective on shares of Wells Fargo & Company from $45.00 to $42.00 and set a “sector perform” rating for the company in a report on Friday, March 24th. Finally, The Goldman Sachs Group raised their price objective on shares of Wells Fargo & Company from $46.00 to $49.00 in a research note on Friday, April 14th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.45.
Wells Fargo & Company Profile
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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
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