111 Capital Makes New $422,000 Investment in Wells Fargo & Company $WFC

111 Capital bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 5,269 shares of the financial services provider’s stock, valued at approximately $422,000.

Other hedge funds have also added to or reduced their stakes in the company. Accretive Wealth Partners LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. increased its position in shares of Wells Fargo & Company by 10.4% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC acquired a new position in Wells Fargo & Company in the first quarter valued at about $408,000. RKL Wealth Management LLC lifted its position in Wells Fargo & Company by 166.4% during the first quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock worth $588,000 after purchasing an additional 5,113 shares during the period. Finally, Allianz SE grew its stake in Wells Fargo & Company by 22.6% during the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after buying an additional 39,150 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $80.63 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. Wells Fargo & Company has a twelve month low of $55.98 and a twelve month high of $86.65. The stock has a market cap of $258.28 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.24 and a beta of 1.25. The company’s fifty day moving average is $80.77 and its 200 day moving average is $76.33.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.33 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is 30.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WFC. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Wells Fargo & Company in a research report on Saturday, September 27th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Finally, Evercore ISI increased their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.74.

About Wells Fargo & Company

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.