Vectors Research Management LLC Invests $1.37 Million in Wells Fargo & Company $WFC

Vectors Research Management LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFCFree Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 16,310 shares of the financial services provider’s stock, valued at approximately $1,367,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $3,990,551,000. Massachusetts Financial Services Co. MA raised its stake in shares of Wells Fargo & Company by 54.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after acquiring an additional 5,894,747 shares in the last quarter. Amundi lifted its position in Wells Fargo & Company by 18.2% during the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after acquiring an additional 2,180,693 shares during the last quarter. Laurel Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 8,010.7% in the second quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock valued at $158,135,000 after acquiring an additional 1,949,395 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Wells Fargo & Company by 939.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,920,799 shares of the financial services provider’s stock valued at $153,894,000 after acquiring an additional 1,736,036 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $88.36 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The stock has a 50-day moving average of $90.17 and a two-hundred day moving average of $84.81. The stock has a market cap of $277.37 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.81 and a beta of 1.09. Wells Fargo & Company has a one year low of $58.42 and a one year high of $97.76.

Wells Fargo & Company (NYSE:WFCGet Free Report) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm had revenue of $21.29 billion during the quarter, compared to analysts’ expectations of $21.63 billion. During the same period last year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 28.71%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WFC shares. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. CICC Research assumed coverage on Wells Fargo & Company in a research note on Wednesday. They set a “market perform” rating and a $96.00 target price on the stock. Robert W. Baird reaffirmed an “underperform” rating and set a $90.00 target price on shares of Wells Fargo & Company in a research report on Tuesday, January 6th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Finally, Argus boosted their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research note on Thursday. Thirteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $94.87.

Read Our Latest Report on Wells Fargo & Company

Key Headlines Impacting Wells Fargo & Company

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Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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