Congress Park Capital LLC Purchases New Holdings in Wells Fargo & Company (NYSE:WFC)

Congress Park Capital LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 29,760 shares of the financial services provider’s stock, valued at approximately $2,090,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service grew its stake in shares of Wells Fargo & Company by 15.2% in the third quarter. National Pension Service now owns 6,789,371 shares of the financial services provider’s stock valued at $383,532,000 after buying an additional 897,195 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Wells Fargo & Company by 2.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,641,581 shares of the financial services provider’s stock valued at $375,183,000 after acquiring an additional 162,066 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Wells Fargo & Company by 10.1% in the 4th quarter. Nordea Investment Management AB now owns 6,284,421 shares of the financial services provider’s stock valued at $441,983,000 after acquiring an additional 575,892 shares during the period. Two Sigma Advisers LP grew its position in shares of Wells Fargo & Company by 730.4% in the 3rd quarter. Two Sigma Advisers LP now owns 5,954,600 shares of the financial services provider’s stock valued at $336,375,000 after acquiring an additional 5,237,500 shares during the period. Finally, Canoe Financial LP acquired a new position in shares of Wells Fargo & Company during the 3rd quarter worth about $160,529,000. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the stock from $60.83 to $65.00 in a report on Tuesday, October 15th. Compass Point increased their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Wells Fargo & Company has an average rating of “Hold” and a consensus price target of $72.17.

Wells Fargo & Company Trading Down 0.0 %

WFC opened at $75.94 on Friday. The stock has a market capitalization of $252.85 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.39 and a beta of 1.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a twelve month low of $46.12 and a twelve month high of $78.13. The company has a 50-day simple moving average of $72.47 and a 200 day simple moving average of $63.24.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. Analysts predict that Wells Fargo & Company will post 5.45 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. Wells Fargo & Company’s payout ratio is 33.26%.

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.