J.W. Cole Advisors Inc. Buys 18,995 Shares of Wells Fargo & Company $WFC

J.W. Cole Advisors Inc. lifted its position in Wells Fargo & Company (NYSE:WFC) by 22.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,378 shares of the financial services provider’s stock after buying an additional 18,995 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Wells Fargo & Company were worth $8,203,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in WFC. Banco Bilbao Vizcaya Argentaria S.A. increased 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 worth $54,471,000 after acquiring an additional 71,740 shares during the period. Three Bridge Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $364,000. Allianz SE grew its position in Wells Fargo & Company by 22.6% in the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock valued at $15,244,000 after acquiring an additional 39,150 shares during the last quarter. NatWest Group plc increased its position in Wells Fargo & Company by 4.6% during the 1st quarter. NatWest Group plc now owns 180,418 shares of the financial services provider’s stock worth $12,952,000 after purchasing an additional 7,934 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new position in Wells Fargo & Company in the second quarter valued at about $40,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, October 15th. Bank of America raised their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Finally, Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Price Performance

Shares of WFC opened at $85.09 on Wednesday. The firm has a market cap of $267.09 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.64. The business’s 50 day moving average price is $84.14 and its two-hundred day moving average price is $80.51. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. The company had revenue of $21.44 billion during 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%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.42 EPS. On average, equities analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current 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 issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 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.