Kathmere Capital Management LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,063 shares of the financial services provider’s stock, valued at approximately $259,000.
A number of other institutional investors have also made changes to their positions in WFC. Norges Bank acquired a new stake in Wells Fargo & Company in the 4th quarter worth $2,049,693,000. Moneta Group Investment Advisors LLC grew its position in Wells Fargo & Company by 129,312.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after buying an additional 26,267,166 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Wells Fargo & Company by 1,478.6% in the 1st quarter. Renaissance Technologies LLC now owns 8,390,611 shares of the financial services provider’s stock valued at $406,609,000 after acquiring an additional 7,859,100 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth approximately $345,861,000. Finally, Deutsche Bank AG grew its holdings in shares of Wells Fargo & Company by 38.9% during the 4th quarter. Deutsche Bank AG now owns 15,661,675 shares of the financial services provider’s stock worth $646,671,000 after purchasing an additional 4,382,639 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
WFC has been the topic of a number of recent research reports. BMO Capital Markets decreased their price target on shares of Wells Fargo & Company from $54.00 to $51.00 in a research note on Monday, July 17th. Citigroup upped their target price on shares of Wells Fargo & Company from $50.00 to $52.00 in a research note on Sunday, July 16th. HSBC assumed coverage on shares of Wells Fargo & Company in a research note on Thursday, September 7th. They set a “hold” rating and a $45.00 price target for the company. Atlantic Securities increased their target price on Wells Fargo & Company from $50.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday, August 1st. Finally, StockNews.com started coverage on Wells Fargo & Company in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $48.39.
Wells Fargo & Company Stock Down 0.2 %
Shares of WFC opened at $42.95 on Monday. The business’s fifty day moving average price is $43.43 and its two-hundred day moving average price is $41.42. The firm has a market capitalization of $157.14 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 0.87 and a beta of 1.14. Wells Fargo & Company has a 52 week low of $35.25 and a 52 week high of $48.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 0.84.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last posted its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Wells Fargo & Company had a return on equity of 11.15% and a net margin of 16.18%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 earnings per share. On average, analysts predict that Wells Fargo & Company will post 4.84 earnings per share for the current year.
Wells Fargo & Company Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were given a dividend of $0.35 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, August 3rd. This represents a $1.40 annualized dividend and a dividend yield of 3.26%. Wells Fargo & Company’s payout ratio is currently 35.00%.
Wells Fargo & Company Company Profile
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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