M.E. Allison & CO. Inc. Acquires Shares of 19,384 Wells Fargo & Company (NYSE:WFC)

M.E. Allison & CO. Inc. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 19,384 shares of the financial services provider’s stock, valued at approximately $1,361,000. Wells Fargo & Company accounts for approximately 1.5% of M.E. Allison & CO. Inc.’s holdings, making the stock its 18th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quad Cities Investment Group LLC increased its holdings in Wells Fargo & Company by 0.3% during the fourth quarter. Quad Cities Investment Group LLC now owns 52,576 shares of the financial services provider’s stock valued at $3,693,000 after buying an additional 158 shares during the last quarter. Investors Research Corp increased its stake in shares of Wells Fargo & Company by 1.2% in the third quarter. Investors Research Corp now owns 13,461 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 160 shares in the last quarter. Ellenbecker Investment Group increased its stake in shares of Wells Fargo & Company by 3.9% in the third quarter. Ellenbecker Investment Group now owns 4,418 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 164 shares in the last quarter. Income Research & Management purchased a new stake in shares of Wells Fargo & Company in the third quarter worth $211,000. Finally, Modera Wealth Management LLC increased its stake in shares of Wells Fargo & Company by 0.9% in the third quarter. Modera Wealth Management LLC now owns 18,014 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $77.22 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $46.12 and a 12 month high of $78.13. The company has a 50 day simple moving average of $72.74 and a two-hundred day simple moving average of $63.46. The stock has a market cap of $257.11 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.39 and a beta of 1.18.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion during the quarter, compared to analyst estimates of $20.58 billion. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.45 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Friday, November 8th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, November 8th. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

Analyst Ratings Changes

WFC has been the subject of a number of research reports. Barclays upped their target price on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday. Compass Point upped their target price on shares of Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Phillip Securities upgraded shares of Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and upped their target price for the stock from $60.83 to $65.00 in a research report on Tuesday, October 15th. Citigroup increased their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Finally, Evercore ISI increased their price objective on shares of Wells Fargo & Company from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $73.39.

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.