Wells Fargo & Company $WFC Shares Purchased by Zions Bancorporation National Association UT

Zions Bancorporation National Association UT increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 13.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,268 shares of the financial services provider’s stock after buying an additional 1,068 shares during the quarter. Zions Bancorporation National Association UT’s holdings in Wells Fargo & Company were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Accretive Wealth Partners LLC acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at about $399,000. Banco Bilbao Vizcaya Argentaria S.A. raised its position in Wells Fargo & Company by 10.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after acquiring an additional 71,740 shares in the last quarter. Secured Retirement Advisors LLC purchased a new position in Wells Fargo & Company during the first quarter valued at approximately $408,000. Three Bridge Wealth Advisors LLC acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $364,000. Finally, Allianz SE boosted its position in Wells Fargo & Company by 22.6% in the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after purchasing an additional 39,150 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on WFC. Evercore ISI lifted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Citigroup lifted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. TD Cowen increased their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Bank of America raised their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Price Performance

NYSE:WFC opened at $86.05 on Monday. The stock has a 50 day moving average of $83.25 and a two-hundred day moving average of $79.44. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.50. The firm has a market cap of $270.11 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

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

Wells Fargo & Company Dividend Announcement

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

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.