Oak Harbor Wealth Partners LLC Takes $220,000 Position in Wells Fargo & Company (NYSE:WFC)

Oak Harbor Wealth Partners LLC bought a new position in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,138 shares of the financial services provider’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $26,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth $30,000. McClarren Financial Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth $30,000. Decker Retirement Planning Inc. bought a new stake in Wells Fargo & Company in the fourth quarter worth $32,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Wells Fargo & Company during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Compass Point lifted their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Citigroup increased their price target on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods boosted their price objective on shares of Wells Fargo & Company from $81.00 to $86.00 and gave the company a “market perform” rating in a research report on Thursday, January 16th. Finally, The Goldman Sachs Group increased their target price on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and an average target price of $73.39.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $71.01 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a market cap of $233.50 billion, a price-to-earnings ratio of 13.20, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16. The business has a 50-day simple moving average of $76.10 and a two-hundred day simple moving average of $68.41. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company had revenue of $20.38 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.74%.

Wells Fargo & Company 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.