Clear Investment Research LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,734 shares of the financial services provider’s stock, valued at approximately $110,000.
Other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at approximately $26,000. Financial Management Professionals Inc. increased its holdings in shares of Wells Fargo & Company by 66.6% in the 3rd quarter. Financial Management Professionals Inc. now owns 688 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 275 shares in the last quarter. Destiny Wealth Partners LLC grew its holdings in shares of Wells Fargo & Company by 716.0% in the 2nd quarter. Destiny Wealth Partners LLC now owns 767 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 673 shares during the period. Tortoise Investment Management LLC increased its stake in shares of Wells Fargo & Company by 100.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 800 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 400 shares in the last quarter. Finally, Orion Capital Management LLC raised its holdings in shares of Wells Fargo & Company by 125.0% in the third quarter. Orion Capital Management LLC now owns 900 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 72.24% of the company’s stock.
Wells Fargo & Company Price Performance
Shares of Wells Fargo & Company stock opened at $41.25 on Friday. Wells Fargo & Company has a 52 week low of $36.54 and a 52 week high of $60.30. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.99. The stock has a market cap of $157.18 billion, a PE ratio of 11.12, a price-to-earnings-growth ratio of 0.84 and a beta of 1.18. The company’s 50-day moving average price is $44.07 and its two-hundred day moving average price is $43.40.
Wells Fargo & Company (NYSE:WFC – Get Rating) last posted its quarterly earnings results on Friday, October 14th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.21. Wells Fargo & Company had a net margin of 19.95% and a return on equity of 10.95%. The firm had revenue of $19.51 billion for the quarter, compared to analyst estimates of $18.78 billion. During the same quarter in the previous year, the business posted $1.17 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 3.11 EPS for the current fiscal year.
Wells Fargo & Company Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Friday, November 4th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend was Thursday, November 3rd. Wells Fargo & Company’s dividend payout ratio (DPR) is 31.17%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on WFC. JPMorgan Chase & Co. lifted their price objective on Wells Fargo & Company from $46.50 to $49.50 in a research report on Wednesday, November 2nd. Morgan Stanley lowered their price target on shares of Wells Fargo & Company from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Thursday, December 15th. StockNews.com initiated coverage on Wells Fargo & Company in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Odeon Capital Group raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $51.79 price target for the company in a research report on Tuesday. Finally, Citigroup decreased their price target on shares of Wells Fargo & Company from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, December 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.39.
About Wells Fargo & Company
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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