Culbertson A N & Co. Inc. Increases Stake in Wells Fargo & Company $WFC

Culbertson A N & Co. Inc. increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,096 shares of the financial services provider’s stock after purchasing an additional 3,820 shares during the period. Culbertson A N & Co. Inc.’s holdings in Wells Fargo & Company were worth $6,017,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WFC. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 purchasing an additional 128,207 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Wells Fargo & Company by 54.9% in the 2nd 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 buying an additional 5,894,747 shares during the period. Pzena Investment Management LLC lifted its holdings in Wells Fargo & Company by 5.5% during 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 in the last quarter. Finally, Boston Partners boosted its position in 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 buying an additional 523,107 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research analyst reports. Barclays upped their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. UBS Group dropped their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Morgan Stanley raised their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 15th. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $83.49 on Tuesday. The business’s fifty day simple moving average is $83.80 and its 200-day simple moving average is $80.06. 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 has a 12-month low of $58.42 and a 12-month high of $88.64. The company has a market cap of $262.07 billion, a PE ratio of 13.73, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.18. The business had revenue of $21.44 billion during 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 company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.42 earnings per share. Analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company 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 dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company’s payout ratio is currently 29.61%.

Wells Fargo & Company Profile

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.