Signature Resources Capital Management LLC Takes $42,000 Position in Wells Fargo & Company (NYSE:WFC)

Signature Resources Capital Management LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 851 shares of the financial services provider’s stock, valued at approximately $42,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fortis Group Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 3rd quarter worth about $25,000. Arlington Trust Co LLC bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at approximately $25,000. Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of Wells Fargo & Company by 208.0% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $32,000. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on WFC. 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. Argus increased their price objective on shares of Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Financial Group increased their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Fourteen investment 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 stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company Trading Up 0.2 %

Shares of WFC traded up $0.11 during trading hours on Friday, reaching $59.94. The stock had a trading volume of 17,298,461 shares, compared to its average volume of 19,706,676. The company has a market cap of $212.21 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 52 week low of $36.40 and a 52 week high of $61.76. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average of $57.63 and a 200 day moving average of $50.23.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $20.86 billion during the quarter, compared to the consensus estimate of $20.19 billion. During the same period in the prior year, the company earned $1.23 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts expect that Wells Fargo & Company will post 5.08 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, May 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.