Metis Global Partners LLC Purchases 20,274 Shares of Wells Fargo & Company (NYSE:WFC)

Metis Global Partners LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 14.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 161,243 shares of the financial services provider’s stock after purchasing an additional 20,274 shares during the quarter. Metis Global Partners LLC’s holdings in Wells Fargo & Company were worth $7,936,000 at the end of the most recent reporting period.

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

Wells Fargo & Company Price Performance

WFC stock traded up $0.11 during mid-day trading on Friday, hitting $59.94. The stock had a trading volume of 17,298,461 shares, compared to its average volume of 19,706,676. The firm has a fifty day simple moving average of $57.63 and a 200 day simple moving average of $50.35. The firm has a market capitalization 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. 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 has a 52 week low of $36.40 and a 52 week high of $61.76.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping 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 company had revenue of $20.86 billion during the quarter, compared to analysts’ expectations of $20.19 billion. During the same quarter in the previous year, the firm earned $1.23 EPS. Wells Fargo & Company’s revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that Wells Fargo & Company will post 5.08 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.34%. Wells Fargo & Company’s payout ratio is presently 29.23%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. HSBC lifted their price objective on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Oppenheimer reissued a “market perform” rating on shares of Wells Fargo & Company in a research note on Monday, April 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Wells Fargo & Company in a research note on Monday, January 8th. Finally, Raymond James upped their price target on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 16th. Fourteen investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Hold” and a consensus target price of $58.99.

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.