NEOS Investment Management LLC Purchases 136,757 Shares of Wells Fargo & Company $WFC

NEOS Investment Management LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 52.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 395,632 shares of the financial services provider’s stock after acquiring an additional 136,757 shares during the quarter. NEOS Investment Management LLC’s holdings in Wells Fargo & Company were worth $33,162,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WFC. Access Investment Management LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth about $25,000. Marquette Asset Management LLC grew its stake in shares of Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $30,000. Kilter Group LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter worth approximately $31,000. Finally, Aventus Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth approximately $37,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, February 4th. CICC Research started coverage on Wells Fargo & Company in a research report on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price target for the company. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Wells Fargo & Company in a research note on Thursday, January 15th. Finally, Wolfe Research reissued an “outperform” rating and set a $109.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Thirteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.03.

Wells Fargo & Company Trading Up 0.8%

Shares of Wells Fargo & Company stock opened at $86.94 on Tuesday. The stock has a market cap of $272.92 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. The company has a 50-day moving average of $91.74 and a two-hundred day moving average of $85.97. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. During the same period in the previous year, the company posted $1.43 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.71%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.