Wells Fargo & Company (NYSE:WFC) is Gibraltar Capital Management Inc.’s 10th Largest Position

Gibraltar Capital Management Inc. boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 9.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 156,411 shares of the financial services provider’s stock after purchasing an additional 13,424 shares during the period. Wells Fargo & Company accounts for 3.3% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Gibraltar Capital Management Inc.’s holdings in Wells Fargo & Company were worth $7,699,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC purchased a new position in shares of Wells Fargo & Company during the third quarter valued at $25,000. Arlington Trust Co LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth about $25,000. Leith Wheeler Investment Counsel Ltd. boosted its position in Wells Fargo & Company by 208.0% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 528,104 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 356,620 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the 4th quarter valued at about $29,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC traded down $0.48 during trading hours on Tuesday, reaching $59.32. 18,007,381 shares of the company traded hands, compared to its average volume of 19,055,352. The stock’s fifty day moving average is $57.24 and its 200 day moving average is $49.97. The stock has a market cap of $210.02 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. Wells Fargo & Company has a 1-year low of $36.40 and a 1-year high of $61.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.10. The business had revenue of $20.86 billion during the quarter, compared to analyst estimates of $20.19 billion. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share. Equities research analysts anticipate that Wells Fargo & Company will post 5.06 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.36%. Wells Fargo & Company’s payout ratio is currently 29.23%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Jefferies Financial Group raised their price target on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Odeon Capital Group cut shares of Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $48.80 target price for the company. in a research note on Thursday, January 18th. Citigroup restated a “neutral” rating and set a $63.00 price target (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Evercore ISI lifted their price objective on shares of Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, Piper Sandler reduced their price objective on shares of Wells Fargo & Company from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Thirteen investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $58.85.

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.