Inkwell Capital LLC Acquires New Shares in Wells Fargo & Company (NYSE:WFC)

Inkwell Capital LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 48,030 shares of the financial services provider’s stock, valued at approximately $3,374,000. Wells Fargo & Company accounts for 3.6% of Inkwell Capital LLC’s holdings, making the stock its 13th biggest holding.

Several other institutional investors have also modified their holdings of the stock. Spinnaker Trust increased its holdings in shares of Wells Fargo & Company by 1.8% during the 4th quarter. Spinnaker Trust now owns 7,407 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 130 shares during the period. MONECO Advisors LLC raised its position in shares of Wells Fargo & Company by 1.9% during the fourth quarter. MONECO Advisors LLC now owns 7,018 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 134 shares during the last quarter. Crown Wealth Group LLC grew its holdings in Wells Fargo & Company by 2.2% during the 4th quarter. Crown Wealth Group LLC now owns 6,648 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 140 shares during the period. Jacobsen Capital Management raised its holdings in Wells Fargo & Company by 2.8% in the fourth quarter. Jacobsen Capital Management now owns 5,420 shares of the financial services provider’s stock worth $381,000 after purchasing an additional 148 shares during the period. Finally, New Republic Capital LLC boosted its holdings in shares of Wells Fargo & Company by 2.9% in the fourth quarter. New Republic Capital LLC now owns 5,249 shares of the financial services provider’s stock valued at $369,000 after buying an additional 149 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of a number of recent analyst reports. Barclays boosted their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Bank of America lowered their price objective on Wells Fargo & Company from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Compass Point increased their target price on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut their price target on shares of Wells Fargo & Company from $82.00 to $73.50 and set a “neutral” rating on the stock in a report on Thursday. Finally, Morgan Stanley set a $79.00 target price on shares of Wells Fargo & Company in a research note on Monday, March 24th. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.55.

Wells Fargo & Company Stock Down 7.5 %

NYSE WFC traded down $5.39 during trading on Thursday, hitting $66.87. The company’s stock had a trading volume of 13,140,653 shares, compared to its average volume of 17,093,658. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.86 and a quick ratio of 0.85. The business’s 50 day simple moving average is $75.50 and its 200-day simple moving average is $70.43. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $81.50. The company has a market cap of $218.34 billion, a PE ratio of 12.43, a P/E/G ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Investors of record on Tuesday, January 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.39%. The ex-dividend date was Friday, February 7th. Wells Fargo & Company’s payout ratio is 29.74%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.