Allen Capital Group LLC Increases Stock Position in Wells Fargo & Company (NYSE:WFC)

Allen Capital Group LLC increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 10.9% during the 4th quarter, HoldingsChannel reports. The fund owned 8,056 shares of the financial services provider’s stock after buying an additional 792 shares during the period. Allen Capital Group LLC’s holdings in Wells Fargo & Company were worth $566,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of WFC. Mattson Financial Services LLC bought a new stake in Wells Fargo & Company during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Wells Fargo & Company during the second quarter valued at $26,000. Truvestments Capital LLC purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at $29,000. Modus Advisors LLC purchased a new position in Wells Fargo & Company in the 4th quarter worth about $30,000. Finally, Decker Retirement Planning Inc. bought a new position in Wells Fargo & Company during the 4th quarter worth about $32,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 0.7 %

Shares of NYSE:WFC opened at $78.41 on Thursday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $261.07 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.18. The firm’s 50-day moving average is $73.35 and its two-hundred day moving average is $64.38. Wells Fargo & Company has a 1 year low of $47.45 and a 1 year high of $78.98.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The business had revenue of $20.38 billion during the quarter, compared to the consensus estimate of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. Analysts predict that Wells Fargo & Company will post 5.84 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, March 1st. Shareholders of record on Friday, February 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WFC shares. Compass Point raised their price target on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. UBS Group lifted their target price on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Morgan Stanley lifted their price target on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Phillip Securities raised shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and lifted their price target for the company from $60.83 to $65.00 in a research note on Tuesday, October 15th. Finally, Citigroup lifted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Eleven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.39.

About Wells Fargo & Company

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.