Cobblestone Capital Advisors LLC NY Raises Stock Position in Wells Fargo & Company (NYSE:WFC)


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Cobblestone Capital Advisors LLC NY grew its holdings in Wells Fargo & Company (NYSE:WFC) by 38.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 474,158 shares of the financial services provider’s stock after buying an additional 131,865 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Wells Fargo & Company were worth $14,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SOL Capital Management CO boosted its stake in shares of Wells Fargo & Company by 8.0% during the 4th quarter. SOL Capital Management CO now owns 68,338 shares of the financial services provider’s stock worth $2,062,000 after purchasing an additional 5,079 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Wells Fargo & Company by 210.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 3,176,880 shares of the financial services provider’s stock worth $95,878,000 after purchasing an additional 2,154,160 shares during the period. Hardy Reed LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth about $202,000. Calton & Associates Inc. boosted its stake in shares of Wells Fargo & Company by 116.4% during the 4th quarter. Calton & Associates Inc. now owns 29,924 shares of the financial services provider’s stock worth $903,000 after purchasing an additional 16,095 shares during the period. Finally, Kovack Advisors Inc. boosted its stake in shares of Wells Fargo & Company by 10.6% during the 4th quarter. Kovack Advisors Inc. now owns 13,771 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 1,322 shares during the period. 67.25% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE WFC traded down $0.09 during mid-day trading on Tuesday, hitting $37.17. The stock had a trading volume of 908,066 shares, compared to its average volume of 38,163,500. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.85 and a current ratio of 0.87. The company has a 50 day moving average of $32.83 and a two-hundred day moving average of $27.29. Wells Fargo & Company has a twelve month low of $20.76 and a twelve month high of $46.95. The firm has a market cap of $153.68 billion, a PE ratio of 100.70, a PEG ratio of 4.84 and a beta of 1.07.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Thursday, January 14th. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.60 by $0.04. Wells Fargo & Company had a net margin of 3.72% and a return on equity of 3.18%. The company had revenue of $17.93 billion for the quarter, compared to analyst estimates of $18 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The firm’s revenue was down 9.7% on a year-over-year basis. Equities research analysts predict that Wells Fargo & Company will post 0.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Friday, February 5th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Thursday, February 4th. Wells Fargo & Company’s payout ratio is 9.13%.

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Wells Fargo & Company from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 18th. Morgan Stanley upgraded shares of Wells Fargo & Company from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a report on Monday, November 30th. Royal Bank of Canada upgraded shares of Wells Fargo & Company from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $25.00 to $31.00 in a report on Monday, November 30th. JPMorgan Chase & Co. upgraded shares of Wells Fargo & Company from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $31.50 to $37.00 in a report on Thursday, February 18th. Finally, Jefferies Financial Group upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and boosted their price target for the company from $26.00 to $38.00 in a report on Thursday, January 7th. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $33.80.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services to individuals, businesses, and institutions in the United States and internationally. It operates in three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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