Caxton Associates LLP increased its holdings in Wells Fargo & Company (NYSE:WFC) by 93.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,540 shares of the financial services provider’s stock after buying an additional 11,827 shares during the period. Caxton Associates LLP’s holdings in Wells Fargo & Company were worth $1,954,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC grew its holdings in Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Wells Fargo & Company by 12.9% in the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after buying an additional 2,615 shares in the last quarter. Main Street Financial Solutions LLC lifted its holdings in shares of Wells Fargo & Company by 111.0% in the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 7,368 shares in the last quarter. Vivaldi Capital Management LP boosted its position in shares of Wells Fargo & Company by 5.4% in the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 165 shares during the period. Finally, Diversify Advisory Services LLC boosted its position in shares of Wells Fargo & Company by 51.2% in the second quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after acquiring an additional 8,714 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on WFC shares. Keefe, Bruyette & Woods decreased their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a report on Wednesday, July 15th. Robert W. Baird raised their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Barclays lowered their price objective on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Finally, UBS Group dropped their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.50.
Wells Fargo & Company Stock Up 0.2%
WFC opened at $86.39 on Friday. The company has a market cap of $264.37 billion, a P/E ratio of 12.56, a P/E/G ratio of 0.94 and a beta of 0.92. The business’s 50-day moving average price is $82.72 and its 200-day moving average price is $83.51. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76.
Wells Fargo & Company Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, May 8th. Wells Fargo & Company’s dividend payout ratio is currently 26.16%.
Wells Fargo & Company Profile
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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