Wells Fargo & Company $WFC Stock Position Lifted by Vise Technologies Inc.

Vise Technologies Inc. increased its position in Wells Fargo & Company (NYSE:WFC) by 9.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 209,705 shares of the financial services provider’s stock after purchasing an additional 17,504 shares during the period. Vise Technologies Inc.’s holdings in Wells Fargo & Company were worth $16,787,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Phillip James Consulting Co. purchased a new stake in shares of Wells Fargo & Company in the first quarter valued at $28,000. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Wells Fargo & Company during the second quarter valued at $28,000. Main Street Group LTD acquired a new position in Wells Fargo & Company during the first quarter valued at $29,000. Dunhill Financial LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth about $30,000. Finally, BOK Financial Private Wealth Inc. acquired a new stake in Wells Fargo & Company during the 2nd quarter worth about $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group lowered their price objective on shares of Wells Fargo & Company from $104.00 to $102.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Thursday, October 15th. HSBC began coverage on Wells Fargo & Company in a research report on Monday, September 28th. They set a “buy” rating and a $108.00 price objective for the company. Bank of America upped their target price on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. boosted their price target on Wells Fargo & Company from $91.50 to $92.00 and gave the company a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.11.

Wells Fargo & Company Trading Down 1.7%

Shares of Wells Fargo & Company stock opened at $83.39 on Friday. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.89 and a quick ratio of 0.90. The company’s fifty day moving average price is $84.33 and its two-hundred day moving average price is $83.70. The firm has a market capitalization of $250.32 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.89 and a beta of 0.96.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. The business had revenue of $21.87 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same quarter last year, the business posted $1.66 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts expect that Wells Fargo & Company will post 7.27 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, November 6th. Wells Fargo & Company’s dividend payout ratio is presently 28.21%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.