Hodges Capital Management Inc. Raises Stock Position in Wells Fargo & Company $WFC

Hodges Capital Management Inc. boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% in the second quarter, HoldingsChannel reports. The fund owned 87,689 shares of the financial services provider’s stock after purchasing an additional 1,591 shares during the quarter. Hodges Capital Management Inc.’s holdings in Wells Fargo & Company were worth $7,026,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after buying an additional 949,735,001 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Wells Fargo & Company by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after acquiring an additional 128,207 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after acquiring an additional 7,894,919 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Wells Fargo & Company by 5.5% during the second quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock valued at $830,990,000 after acquiring an additional 542,493 shares in the last quarter. Finally, Boston Partners raised its position in shares of Wells Fargo & Company by 6.2% in the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock valued at $640,616,000 after purchasing an additional 523,107 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 0.0%

NYSE WFC opened at $86.05 on Monday. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $88.50. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $270.11 billion, a PE ratio of 14.15, a P/E/G ratio of 1.18 and a beta of 1.22. The company has a fifty day moving average of $83.25 and a 200 day moving average of $79.44.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. Research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Analysts Set New Price Targets

Several analysts have weighed in on WFC shares. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Morgan Stanley lifted their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. UBS Group reduced their target price on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Finally, The Goldman Sachs Group dropped their price target on Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.