Vantage Financial Partners Ltd. Inc. acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,095 shares of the financial services provider’s stock, valued at approximately $1,095,000. Wells Fargo & Company comprises about 0.8% of Vantage Financial Partners Ltd. Inc.’s investment portfolio, making the stock its 18th largest holding.
Other large investors also recently modified their holdings of the company. Boston Partners increased its position in Wells Fargo & Company by 140.1% in the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after acquiring an additional 11,139,780 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in Wells Fargo & Company by 49.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock valued at $540,657,000 after acquiring an additional 3,214,592 shares during the period. APG Asset Management N.V. increased its position in Wells Fargo & Company by 38.8% in the 2nd quarter. APG Asset Management N.V. now owns 9,587,279 shares of the financial services provider’s stock valued at $531,231,000 after acquiring an additional 2,681,497 shares during the period. USS Investment Management Ltd increased its position in Wells Fargo & Company by 62.7% in the 2nd quarter. USS Investment Management Ltd now owns 6,359,300 shares of the financial services provider’s stock valued at $352,464,000 after acquiring an additional 2,450,000 shares during the period. Finally, Karp Capital Management Corp acquired a new position in Wells Fargo & Company in the 1st quarter valued at approximately $90,858,000. 75.77% of the stock is owned by institutional investors and hedge funds.
In other Wells Fargo & Company news, VP Richard Levy sold 97,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total value of $5,477,590.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael J. Loughlin sold 17,482 shares of the firm’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $57.80, for a total transaction of $1,010,459.60. The disclosure for this sale can be found here. Insiders sold 184,482 shares of company stock valued at $10,471,050 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.
WFC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods set a $61.00 price objective on shares of Wells Fargo & Company and gave the stock a “buy” rating in a research report on Friday, August 25th. UBS set a $57.00 price objective on shares of Wells Fargo & Company and gave the stock a “neutral” rating in a research report on Friday, October 6th. Vetr upgraded shares of Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a research report on Monday, November 6th. BMO Capital Markets increased their price objective on shares of Wells Fargo & Company from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Monday, October 16th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 11th. Five research analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.25.
Wells Fargo & Company (WFC) traded up $0.02 during trading hours on Thursday, reaching $58.57. 26,758,300 shares of the company’s stock were exchanged, compared to its average volume of 18,356,119. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. The firm has a market capitalization of $288,315.47, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.41 and a beta of 0.96. Wells Fargo & Company has a 1-year low of $49.27 and a 1-year high of $59.99.
Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.03 earnings per share. research analysts forecast that Wells Fargo & Company will post 3.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 3rd were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Thursday, November 2nd. Wells Fargo & Company’s payout ratio is 40.31%.
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About Wells Fargo & Company
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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