7,623 Shares in Wells Fargo & Company $WFC Purchased by ZEGA Investments LLC

ZEGA Investments LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, Holdings Channel reports. The institutional investor acquired 7,623 shares of the financial services provider’s stock, valued at approximately $611,000.

Other hedge funds have also added to or reduced their stakes in the company. Access Investment Management LLC bought a new stake in Wells Fargo & Company during the 2nd quarter worth about $25,000. McElhenny Sheffield Capital Management LLC acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at about $27,000. CBIZ Investment Advisory Services LLC grew its holdings in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the period. Accent Capital Management LLC acquired a new position in Wells Fargo & Company during the first quarter worth approximately $29,000. Finally, Motco raised its stake in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after buying an additional 326 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on WFC. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. UBS Group cut their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. TD Cowen raised their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Finally, Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Eleven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Up 0.0%

Shares of WFC opened at $86.05 on Friday. The stock’s 50-day moving average price is $83.25 and its two-hundred day moving average price is $79.27. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.50. The company has a market capitalization of $270.11 billion, a PE ratio of 14.15, a PEG 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 posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same period in the previous year, the firm earned $1.42 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Wells Fargo & Company 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.