Inceptionr LLC Invests $1.13 Million in Wells Fargo & Company $WFC

Inceptionr LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 14,115 shares of the financial services provider’s stock, valued at approximately $1,131,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Access Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC boosted its holdings in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in Wells Fargo & Company during the second quarter worth $27,000. Accent Capital Management LLC bought a new position in Wells Fargo & Company in the first quarter valued at $29,000. Finally, 1248 Management LLC acquired a new stake in Wells Fargo & Company in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WFC. Weiss Ratings upgraded shares of Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Barclays raised their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Bank of America upped their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Up 0.6%

WFC stock opened at $85.61 on Thursday. 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 firm has a market capitalization of $268.75 billion, a PE ratio of 14.08, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $88.64. The business’s 50 day simple moving average is $84.20 and its 200 day simple moving average is $80.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.18. 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 the consensus estimate of $21.11 billion. During the same quarter last year, the firm posted $1.42 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & Company 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.