Waycross Partners LLC Acquires 92,818 Shares of Wells Fargo & Company (NYSE:WFC)

Waycross Partners LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 67.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 231,350 shares of the financial services provider’s stock after acquiring an additional 92,818 shares during the quarter. Wells Fargo & Company accounts for 2.1% of Waycross Partners LLC’s holdings, making the stock its 19th biggest position. Waycross Partners LLC’s holdings in Wells Fargo & Company were worth $11,387,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its holdings in shares of Wells Fargo & Company by 12.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,754 shares of the financial services provider’s stock valued at $153,000 after buying an additional 424 shares during the last quarter. PDS Planning Inc boosted its holdings in shares of Wells Fargo & Company by 3.1% in the 3rd quarter. PDS Planning Inc now owns 8,966 shares of the financial services provider’s stock valued at $366,000 after buying an additional 266 shares during the last quarter. Sweet Financial Partners LLC boosted its holdings in shares of Wells Fargo & Company by 11.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 9,841 shares of the financial services provider’s stock valued at $402,000 after buying an additional 1,033 shares during the last quarter. QV Investors Inc. boosted its holdings in shares of Wells Fargo & Company by 37.2% in the 3rd quarter. QV Investors Inc. now owns 271,407 shares of the financial services provider’s stock valued at $11,090,000 after buying an additional 73,530 shares during the last quarter. Finally, Vicus Capital boosted its holdings in shares of Wells Fargo & Company by 13.1% in the 3rd quarter. Vicus Capital now owns 8,087 shares of the financial services provider’s stock valued at $330,000 after buying an additional 937 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WFC shares. Robert W. Baird reissued a “neutral” rating and issued a $55.00 price objective on shares of Wells Fargo & Company in a report on Monday, January 8th. Citigroup reissued a “neutral” rating and issued a $63.00 price objective (up previously from $57.00) on shares of Wells Fargo & Company in a report on Wednesday, March 20th. Barclays raised their price target on Wells Fargo & Company from $54.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Finally, Morgan Stanley raised their price target on Wells Fargo & Company from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Thirteen equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $58.85.

Wells Fargo & Company Price Performance

Shares of NYSE WFC traded down $0.48 during mid-day trading on Tuesday, reaching $59.32. The company had a trading volume of 18,007,381 shares, compared to its average volume of 19,055,352. 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 one year low of $36.40 and a one year high of $61.76. The firm has a market cap of $210.02 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.16 and a beta of 1.19. The business’s 50-day simple moving average is $57.24 and its 200 day simple moving average is $49.97.

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

Wells Fargo & Company Announces Dividend

The company also recently declared 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. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.36%. Wells Fargo & Company’s payout ratio is 29.23%.

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.