Claret Asset Management Corp Invests $239,000 in Wells Fargo & Company (NYSE:WFC)

Claret Asset Management Corp acquired a new position in Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 3,402 shares of the financial services provider’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Norges Bank bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $3,365,658,000. Dimensional Fund Advisors LP lifted its position in Wells Fargo & Company by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,369,222 shares of the financial services provider’s stock valued at $1,430,742,000 after acquiring an additional 238,131 shares during the period. Nordea Investment Management AB increased its stake in shares of Wells Fargo & Company by 10.1% during the fourth quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after purchasing an additional 575,892 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Wells Fargo & Company by 6.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,464,967 shares of the financial services provider’s stock worth $389,707,000 after purchasing an additional 352,821 shares in the last quarter. Finally, FIL Ltd grew its stake in shares of Wells Fargo & Company by 2.6% in the fourth quarter. FIL Ltd now owns 4,138,814 shares of the financial services provider’s stock worth $290,710,000 after acquiring an additional 104,136 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Bank of America cut their price target on shares of Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Raymond James decreased their price objective on Wells Fargo & Company from $88.00 to $78.00 and set a “strong-buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Citigroup decreased their target price on Wells Fargo & Company from $82.00 to $78.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, Keefe, Bruyette & Woods raised their price target on Wells Fargo & Company from $81.00 to $86.00 and gave the stock a “market perform” rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.34.

Wells Fargo & Company Stock Up 1.0 %

WFC stock opened at $64.63 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The stock has a market capitalization of $211.02 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02. The firm has a 50 day moving average of $71.23 and a 200 day moving average of $71.05.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 11th. The financial services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.16. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm had revenue of $20.15 billion during the quarter, compared to the consensus estimate of $20.82 billion. During the same quarter in the previous year, the company posted $1.20 earnings per share. The company’s revenue was down 3.4% compared to the same quarter last year. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.73%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.