Nvwm LLC Buys 8,663 Shares of Wells Fargo & Company $WFC

Nvwm LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 21.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,495 shares of the financial services provider’s stock after purchasing an additional 8,663 shares during the quarter. Wells Fargo & Company accounts for 0.9% of Nvwm LLC’s portfolio, making the stock its 21st largest position. Nvwm LLC’s holdings in Wells Fargo & Company were worth $3,885,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after acquiring an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Wells Fargo & Company by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after purchasing an additional 128,207 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after purchasing an additional 7,894,919 shares in the last quarter. Pzena Investment Management LLC lifted its position in Wells Fargo & Company by 5.5% during the second quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock worth $830,990,000 after purchasing an additional 542,493 shares during the period. Finally, Boston Partners raised its position in shares of Wells Fargo & Company by 6.2% in the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock valued at $640,616,000 after buying an additional 523,107 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WFC shares. Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Citigroup lifted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. TD Cowen boosted their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Phillip Securities downgraded Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Finally, Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Price Performance

WFC stock opened at $86.06 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a 50-day moving average price of $83.17 and a 200 day moving average price of $79.11. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.50. The stock has a market cap of $275.69 billion, a PE ratio of 14.15, a P/E/G ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last issued its 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. The business had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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