Highland Capital Management LLC Purchases 913 Shares of Wells Fargo & Company (NYSE:WFC)

Highland Capital Management LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,289 shares of the financial services provider’s stock after purchasing an additional 913 shares during the period. Highland Capital Management LLC’s holdings in Wells Fargo & Company were worth $7,348,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of WFC. Fortis Group Advisors LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at $25,000. Studio Investment Management LLC acquired a new stake in Wells Fargo & Company in the 4th quarter valued at $28,000. Strategic Investment Solutions Inc. IL acquired a new stake in Wells Fargo & Company in the 1st quarter valued at $28,000. Baystate Wealth Management LLC boosted its stake in Wells Fargo & Company by 53.0% in the 3rd quarter. Baystate Wealth Management LLC now owns 803 shares of the financial services provider’s stock valued at $33,000 after buying an additional 278 shares in the last quarter. Finally, Impact Partnership Wealth LLC acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at $34,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on WFC. Barclays boosted their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Odeon Capital Group lowered Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective on the stock. in a research note on Thursday, January 18th. Compass Point boosted their price objective on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Morgan Stanley boosted their price objective on Wells Fargo & Company from $54.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 30th. Finally, The Goldman Sachs Group boosted their price objective on Wells Fargo & Company from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Twelve analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Hold” and an average target price of $54.31.

Wells Fargo & Company Trading Up 1.6 %

WFC stock opened at $57.61 on Thursday. The company has a market cap of $203.96 billion, a P/E ratio of 11.95, a PEG ratio of 1.18 and a beta of 1.19. Wells Fargo & Company has a twelve month low of $36.27 and a twelve month high of $58.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average of $52.78 and a 200-day moving average of $46.94.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The company had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 4.72 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were issued a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a yield of 2.43%. Wells Fargo & Company’s dividend payout ratio is presently 29.05%.

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.