Everpar Advisors LLC Purchases Shares of 18,167 Wells Fargo & Company (NYSE:WFC)

Everpar Advisors LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 18,167 shares of the financial services provider’s stock, valued at approximately $894,000.

A number of other large investors have also recently added to or reduced their stakes in WFC. Stoneridge Investment Partners LLC lifted its stake in shares of Wells Fargo & Company by 410.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 67,480 shares of the financial services provider’s stock worth $2,757,000 after buying an additional 54,262 shares during the last quarter. United Services Automobile Association lifted its stake in shares of Wells Fargo & Company by 13.7% during the 3rd quarter. United Services Automobile Association now owns 97,906 shares of the financial services provider’s stock worth $4,000,000 after buying an additional 11,825 shares during the last quarter. Synovus Financial Corp lifted its stake in shares of Wells Fargo & Company by 61.7% during the 3rd quarter. Synovus Financial Corp now owns 121,937 shares of the financial services provider’s stock worth $4,983,000 after buying an additional 46,525 shares during the last quarter. Trust Point Inc. acquired a new stake in Wells Fargo & Company in the 4th quarter worth about $2,499,000. Finally, WealthPlan Investment Management LLC raised its stake in Wells Fargo & Company by 2,174.3% in the 3rd quarter. WealthPlan Investment Management LLC now owns 21,287 shares of the financial services provider’s stock worth $870,000 after purchasing an additional 20,351 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock traded up $0.97 during midday trading on Wednesday, hitting $61.23. 18,626,876 shares of the company traded hands, compared to its average volume of 18,897,705. The stock has a market cap of $213.47 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The firm’s fifty day moving average price is $57.86 and its 200-day moving average price is $50.62. Wells Fargo & Company has a 12 month low of $37.18 and a 12 month high of $61.76.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.10 by $0.10. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The business had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. During the same period last year, the company earned $1.23 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.08 earnings per share for the current 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 given a dividend of $0.35 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.40 annualized dividend and a yield of 2.29%. Wells Fargo & Company’s dividend payout ratio is presently 29.23%.

Analysts Set New Price Targets

Several brokerages have weighed in on WFC. Raymond James lifted 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 research note on Tuesday, January 16th. HSBC lifted their price objective on shares of Wells Fargo & Company from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, March 28th. Odeon Capital Group cut 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 research note on Thursday, January 18th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $62.00 price objective (up previously from $56.00) on shares of Wells Fargo & Company in a research note on Wednesday, March 27th. Finally, StockNews.com raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $58.99.

Wells Fargo & Company 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.