Kore Private Wealth LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 10.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,916 shares of the financial services provider’s stock after purchasing an additional 968 shares during the period. Kore Private Wealth LLC’s holdings in Wells Fargo & Company were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Centerpoint Advisors LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter worth about $25,000. Loomis Sayles & Co. L P purchased a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $27,000. MV Capital Management Inc. boosted its stake in shares of Wells Fargo & Company by 561.5% in the second quarter. MV Capital Management Inc. now owns 602 shares of the financial services provider’s stock valued at $27,000 after buying an additional 511 shares in the last quarter. Isthmus Partners LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $27,000. Finally, Holloway Wealth Management LLC raised its holdings in Wells Fargo & Company by 547.0% during the second quarter. Holloway Wealth Management LLC now owns 647 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 547 shares during the last quarter. 70.82% of the stock is currently owned by institutional investors.
Shares of Wells Fargo & Company stock opened at $46.05 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.83 and a quick ratio of 0.81. The firm has a market cap of $189.10 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.99 and a beta of 1.36. The firm has a 50 day simple moving average of $47.13 and a 200 day simple moving average of $45.41. Wells Fargo & Company has a fifty-two week low of $20.76 and a fifty-two week high of $51.41.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Shareholders of record on Friday, August 6th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, August 5th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.74%. Wells Fargo & Company’s payout ratio is 145.45%.
A number of equities analysts have recently weighed in on the company. Royal Bank of Canada boosted their price target on Wells Fargo & Company from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 7th. Barclays upped their target price on Wells Fargo & Company from $46.00 to $50.00 and gave the company an “equal weight” rating in a research note on Thursday, July 15th. Keefe, Bruyette & Woods assumed coverage on Wells Fargo & Company in a research report on Wednesday, July 7th. They set an “outperform” rating and a $57.00 price target for the company. Odeon Capital Group downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating in a research report on Monday, July 19th. Finally, Raymond James upped their target price on Wells Fargo & Company from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, August 26th. Nine analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $47.95.
About Wells Fargo & Company
Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.
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