Allen Capital Group LLC Acquires New Holdings in Wells Fargo & Company (NYSE:WFC)

Allen Capital Group LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,311 shares of the financial services provider’s stock, valued at approximately $261,000.

Several other large investors have also recently modified their holdings of the business. First Financial Corp IN raised its position in shares of Wells Fargo & Company by 4.9% during the fourth quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 214 shares during the period. CX Institutional increased its stake in Wells Fargo & Company by 1.1% during the 4th quarter. CX Institutional now owns 20,280 shares of the financial services provider’s stock valued at $998,000 after purchasing an additional 217 shares in the last quarter. ERTS Wealth Advisors LLC raised its holdings in Wells Fargo & Company by 3.5% during the fourth quarter. ERTS Wealth Advisors LLC now owns 6,733 shares of the financial services provider’s stock worth $331,000 after buying an additional 228 shares during the last quarter. Prio Wealth Limited Partnership lifted its stake in shares of Wells Fargo & Company by 1.7% in the fourth quarter. Prio Wealth Limited Partnership now owns 14,309 shares of the financial services provider’s stock valued at $704,000 after buying an additional 233 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its position in shares of Wells Fargo & Company by 19.1% during the fourth quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 244 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WFC shares. Compass Point reaffirmed a “neutral” rating and issued a $64.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, April 9th. Jefferies Financial Group increased their price objective on Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Raymond James raised their price objective on Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 16th. Finally, Citigroup reaffirmed a “neutral” rating and set a $63.00 price objective (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Thirteen analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $58.85.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $56.41 on Wednesday. The business’s 50 day simple moving average is $55.25 and its 200 day simple moving average is $48.55. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $58.44. The company has a market cap of $199.71 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.15 and a beta of 1.19. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The firm had revenue of $20.86 billion for the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Sell-side analysts forecast that Wells Fargo & Company will post 4.86 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. Stockholders of record on Friday, February 2nd were paid a $0.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.40 annualized dividend and a dividend yield of 2.48%. Wells Fargo & Company’s payout ratio is 29.23%.

About Wells Fargo & Company

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.