Wells Fargo & Company $WFC Shares Purchased by Opinicus Capital Inc.

Opinicus Capital Inc. grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 10.3% during the second quarter, HoldingsChannel reports. The firm owned 10,242 shares of the financial services provider’s stock after buying an additional 955 shares during the period. Opinicus Capital Inc.’s holdings in Wells Fargo & Company were worth $821,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP raised its stake in Wells Fargo & Company by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock valued at $1,471,259,000 after buying an additional 128,207 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Wells Fargo & Company by 54.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after purchasing an additional 5,894,747 shares during the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Wells Fargo & Company by 5.5% in the 2nd quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock valued at $830,990,000 after buying an additional 542,493 shares during the period. Finally, Boston Partners grew its holdings in shares of Wells Fargo & Company by 6.2% during the first 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. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock opened at $84.98 on Friday. The firm has a 50 day moving average of $83.71 and a two-hundred day moving average of $79.86. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.64. The company has a market capitalization of $266.77 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.18 and a beta of 1.22. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. 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 net margin of 17.18% and a return on equity of 12.51%. Wells Fargo & Company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods raised their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 15th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Finally, Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.