Headlands Technologies LLC Makes New $9.71 Million Investment in Wells Fargo & Company (NYSE:WFC)

Headlands Technologies LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 163,552 shares of the financial services provider’s stock, valued at approximately $9,713,000. Wells Fargo & Company comprises approximately 1.0% of Headlands Technologies LLC’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $25,000. Transcendent Capital Group LLC acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $32,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth $34,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Finally, Valued Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. BMO Capital Markets increased their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Evercore ISI cut their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, September 3rd. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Trading Up 2.3 %

WFC stock traded up $1.26 during mid-day trading on Tuesday, reaching $55.85. 3,176,489 shares of the stock traded hands, compared to its average volume of 17,711,012. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The stock’s fifty day moving average is $57.19 and its 200-day moving average is $57.97. The company has a market cap of $190.10 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.27 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same quarter last year, the business posted $1.25 EPS. The company’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.86%. Wells Fargo & Company’s payout ratio is currently 32.85%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.