SNS Financial Group LLC Purchases 917 Shares of Wells Fargo & Company (NYSE:WFC)

by · The Cerbat Gem

SNS Financial Group LLC raised its stake in Wells Fargo & Company (NYSE:WFC – Free Report) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,657 shares of the financial services provider’s stock after purchasing an additional 917 shares during the period. SNS Financial Group LLC’s holdings in Wells Fargo & Company were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. First Financial Corp IN boosted its holdings in Wells Fargo & Company by 4.9% in the 4th quarter. First Financial Corp IN now owns 4,595 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 214 shares during the period. CX Institutional boosted its holdings in Wells Fargo & Company by 1.1% in 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 during the period. SJS Investment Consulting Inc. boosted its holdings in Wells Fargo & Company by 19.1% in the 4th quarter. SJS Investment Consulting Inc. now owns 1,523 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 244 shares during the period. Cape Cod Five Cents Savings Bank boosted its holdings in Wells Fargo & Company by 4.6% in the 4th quarter. Cape Cod Five Cents Savings Bank now owns 5,625 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 245 shares during the period. Finally, Security National Bank of SO Dak boosted its holdings in Wells Fargo & Company by 3.0% in the 3rd quarter. Security National Bank of SO Dak now owns 8,591 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 252 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded down $0.20 during trading on Tuesday, reaching $57.41. The company had a trading volume of 5,501,464 shares, compared to its average volume of 18,797,254. Wells Fargo & Company has a 52 week low of $36.27 and a 52 week high of $58.44. The stock has a market cap of $203.25 billion, a PE ratio of 11.95, a PEG ratio of 1.20 and a beta of 1.19. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50 day moving average price is $53.61 and its 200-day moving average price is $47.37.

Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.30). The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. Analysts expect that Wells Fargo & Company will post 4.72 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 2nd were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date was Thursday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.05%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on WFC. Odeon Capital Group downgraded shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 price objective for the company. in a report on Thursday, January 18th. Raymond James raised their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 16th. Compass Point raised their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Barclays raised their price objective on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, March 19th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.68.

Check Out Our Latest Stock Report on WFC

About Wells Fargo & Company

(Free Report)

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.

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