Choate Investment Advisors Boosts Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Choate Investment Advisors boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,347 shares of the financial services provider’s stock after buying an additional 5,033 shares during the period. Choate Investment Advisors’ holdings in Wells Fargo & Company were worth $3,255,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Diversified Enterprises LLC increased its stake in Wells Fargo & Company by 3.4% during the 4th quarter. Diversified Enterprises LLC now owns 6,696 shares of the financial services provider’s stock worth $469,000 after buying an additional 222 shares in the last quarter. Frank Rimerman Advisors LLC increased its stake in Wells Fargo & Company by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 20,532 shares of the financial services provider’s stock worth $1,442,000 after buying an additional 449 shares in the last quarter. First Financial Group Corp purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $330,000. Van Strum & Towne Inc. grew its position in shares of Wells Fargo & Company by 26.2% in the fourth quarter. Van Strum & Towne Inc. now owns 9,639 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd grew its position in shares of Wells Fargo & Company by 102.2% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 83,100 shares of the financial services provider’s stock valued at $5,837,000 after purchasing an additional 42,000 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Up 3.6 %

NYSE:WFC opened at $70.96 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock’s fifty day moving average is $75.89 and its two-hundred day moving average is $68.93. Wells Fargo & Company has a 52 week low of $50.15 and a 52 week high of $81.50. The stock has a market capitalization of $233.31 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

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

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Citigroup upped their price target on Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group upped their price target on Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Compass Point upped their price target on Wells Fargo & Company from $60.00 to $83.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada upgraded Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Thursday. Finally, Barclays upped their price target on Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.39.

Wells Fargo & 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.