AM Squared Ltd reduced its holdings in Wells Fargo & Company (NYSE:WFC – Free Report) by 59.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,100 shares of the financial services provider’s stock after selling 6,100 shares during the quarter. AM Squared Ltd’s holdings in Wells Fargo & Company were worth $153,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. Dodge & Cox increased its stake in Wells Fargo & Company by 1.4% in the 1st quarter. Dodge & Cox now owns 120,385,253 shares of the financial services provider’s stock worth $4,500,001,000 after acquiring an additional 1,662,877 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Wells Fargo & Company by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 68,746,622 shares of the financial services provider’s stock worth $2,564,588,000 after purchasing an additional 929,727 shares in the last quarter. Norges Bank purchased a new position in shares of Wells Fargo & Company in the 4th quarter worth about $2,049,693,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 129,312.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 26,287,479 shares of the financial services provider’s stock worth $1,085,410,000 after purchasing an additional 26,267,166 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Wells Fargo & Company by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 23,079,196 shares of the financial services provider’s stock worth $862,700,000 after purchasing an additional 304,269 shares in the last quarter. 72.47% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently issued reports on WFC. StockNews.com began coverage on Wells Fargo & Company in a report on Thursday, August 17th. They issued a “hold” rating for the company. Atlantic Securities upped their price objective on Wells Fargo & Company from $50.00 to $52.50 and gave the stock an “overweight” rating in a report on Tuesday, August 1st. Wolfe Research cut Wells Fargo & Company from an “outperform” rating to a “peer perform” rating in a report on Friday, July 7th. HSBC started coverage on Wells Fargo & Company in a report on Thursday, September 7th. They issued a “hold” rating and a $45.00 price objective for the company. Finally, Morgan Stanley increased their target price on Wells Fargo & Company from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $48.39.
Wells Fargo & Company Trading Up 2.9 %
NYSE WFC opened at $42.54 on Wednesday. Wells Fargo & Company has a fifty-two week low of $35.25 and a fifty-two week high of $48.84. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50 day simple moving average of $43.44 and a two-hundred day simple moving average of $41.51. The stock has a market cap of $155.64 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 0.82 and a beta of 1.14.
Wells Fargo & Company (NYSE:WFC – Get Free Report) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.09. Wells Fargo & Company had a return on equity of 11.15% and a net margin of 16.18%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.11 billion. During the same quarter last year, the business posted $0.74 EPS. The business’s revenue was up 20.5% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 4.84 earnings per share for the current year.
Wells Fargo & Company Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 4th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.40 annualized dividend and a dividend yield of 3.29%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.30. Wells Fargo & Company’s dividend payout ratio is currently 35.00%.
Wells Fargo & Company Profile
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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