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

Metis Global Partners LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 14.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,243 shares of the financial services provider’s stock after acquiring an additional 20,274 shares during the period. Metis Global Partners LLC’s holdings in Wells Fargo & Company were worth $7,936,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WFC. TCI Wealth Advisors Inc. bought a new position in Wells Fargo & Company during the 4th quarter valued at approximately $206,000. Connecticut Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at $211,000. Forte Capital LLC ADV purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $263,000. TCG Advisory Services LLC bought a new position in Wells Fargo & Company in the 4th quarter worth about $13,124,000. Finally, AJOVista LLC purchased a new stake in Wells Fargo & Company during the 4th quarter valued at about $173,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.2 %

Shares of NYSE:WFC traded up $0.11 during trading on Friday, reaching $59.94. The company’s stock had a trading volume of 17,298,461 shares, compared to its average volume of 19,706,676. The stock has a market capitalization of $212.21 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. Wells Fargo & Company has a 12 month low of $36.40 and a 12 month high of $61.76. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.14. The firm’s 50 day simple moving average is $57.63 and its two-hundred day simple moving average is $50.35.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, April 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.10. The firm had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.08 EPS 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. Stockholders of record on Friday, May 10th will be paid a dividend of $0.35 per share. The ex-dividend date 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 dividend payout ratio is 29.23%.

Analysts Set New Price Targets

Several brokerages have issued reports on WFC. Citigroup reaffirmed a “neutral” rating and issued a $63.00 target price (up from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $62.00 price objective (up from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. Morgan Stanley increased their target price on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Evercore ISI upped their price target on Wells Fargo & Company from $58.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Finally, Jefferies Financial Group upped their target price on shares of Wells Fargo & Company from $52.00 to $60.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Fourteen investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.