Pzena Investment Management LLC Buys 485,833 Shares of Wells Fargo & Company (WFC)
Pzena Investment Management LLC boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 47.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,503,167 shares of the financial services provider’s stock after acquiring an additional 485,833 shares during the quarter. Pzena Investment Management LLC’s holdings in Wells Fargo & were worth $83,290,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Delphi Private Advisors LLC raised its stake in shares of Wells Fargo & by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,461 shares in the last quarter. Brick & Kyle Associates raised its stake in shares of Wells Fargo & by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares in the last quarter. Stelac Advisory Services LLC purchased a new position in shares of Wells Fargo & during the 2nd quarter worth approximately $104,000. Clear Investment Research LLC purchased a new position in shares of Wells Fargo & during the 2nd quarter worth approximately $121,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in shares of Wells Fargo & during the 1st quarter worth approximately $124,000. 75.04% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on WFC shares. Keefe, Bruyette & Woods set a $61.00 target price on Wells Fargo & and gave the stock a “buy” rating in a research note on Friday, August 25th. UBS AG set a $57.00 target price on Wells Fargo & and gave the stock a “neutral” rating in a research note on Friday, October 6th. Vetr raised Wells Fargo & from a “sell” rating to a “strong-buy” rating in a research note on Monday, November 6th. BMO Capital Markets increased their target price on Wells Fargo & from $49.00 to $50.00 and gave the stock a “market perform” rating in a research note on Monday, October 16th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, October 11th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $57.20.
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Wells Fargo & Company (NYSE WFC) opened at $53.81 on Friday. Wells Fargo & Company has a fifty-two week low of $49.27 and a fifty-two week high of $59.99. The firm has a market capitalization of $265,170.00, a price-to-earnings ratio of 13.11, a P/E/G ratio of 1.31 and a beta of 0.97. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89.
Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same quarter in the previous year, the business posted $1.03 EPS. Wells Fargo &’s revenue was down 1.8% compared to the same quarter last year. equities analysts forecast that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s payout ratio is currently 40.31%.
Wells Fargo & Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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