Eubel Brady & Suttman Asset Management Inc. Buys 1,463 Shares of Wells Fargo & Company $WFC

Eubel Brady & Suttman Asset Management Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 193,666 shares of the financial services provider’s stock after purchasing an additional 1,463 shares during the period. Wells Fargo & Company accounts for approximately 2.0% of Eubel Brady & Suttman Asset Management Inc.’s holdings, making the stock its 25th largest holding. Eubel Brady & Suttman Asset Management Inc.’s holdings in Wells Fargo & Company were worth $15,517,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WFC. Accretive Wealth Partners LLC bought a new position in Wells Fargo & Company during the first quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Wells Fargo & Company by 10.4% in the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after purchasing an additional 71,740 shares during the period. Secured Retirement Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 1st quarter valued at about $408,000. RKL Wealth Management LLC raised its stake in shares of Wells Fargo & Company by 166.4% in the 1st quarter. RKL Wealth Management LLC now owns 8,185 shares of the financial services provider’s stock valued at $588,000 after purchasing an additional 5,113 shares during the period. Finally, Three Bridge Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $364,000. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on WFC. Bank of America lifted their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Raymond James Financial downgraded Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Finally, Citigroup lifted their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Trading Down 0.2%

Wells Fargo & Company stock opened at $86.86 on Wednesday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $278.25 billion, a P/E ratio of 14.29, a PEG ratio of 1.20 and a beta of 1.25. The stock has a 50-day simple moving average of $82.27 and a 200 day simple moving average of $78.11.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter last year, the company posted $1.42 earnings per share. Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 29.61%.

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.