Wilkinson Global Asset Management LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, Holdings Channel.com reports. The fund purchased 30,400 shares of the financial services provider’s stock, valued at approximately $2,512,000.
Several other institutional investors have also recently made changes to their positions in WFC. Bryn Mawr Trust Advisors LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $658,000. Swiss Life Asset Management Ltd increased its holdings in Wells Fargo & Company by 4.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock valued at $32,673,000 after purchasing an additional 14,168 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Wells Fargo & Company by 4.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock valued at $38,446,000 after purchasing an additional 17,302 shares during the period. Norges Bank acquired a new position in Wells Fargo & Company during the fourth quarter worth $4,512,563,000. Finally, Winning Points Advisors LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $3,384,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on WFC shares. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday, July 15th. UBS Group cut their price target on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Finally, Morgan Stanley increased their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $98.61.
Wells Fargo & Company Stock Up 0.2%
Wells Fargo & Company stock opened at $83.83 on Friday. The firm has a market capitalization of $253.50 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.91 and a beta of 0.92. 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 twelve month low of $72.78 and a twelve month high of $97.76. The stock’s fifty day simple moving average is $86.08 and its 200-day simple moving average is $82.97.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period last year, the business posted $1.60 earnings per share. Wells Fargo & Company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.
Wells Fargo & Company Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio is 29.07%.
About Wells Fargo & Company
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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