2,790 Shares in Wells Fargo & Company $WFC Purchased by Investment Partners LTD.

Investment Partners LTD. bought a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,790 shares of the financial services provider’s stock, valued at approximately $224,000.

Several other hedge funds have also bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the last quarter. Strs Ohio bought a new stake in Wells Fargo & Company in the first quarter worth $109,643,000. Canada Pension Plan Investment Board increased its holdings in shares of Wells Fargo & Company by 34.6% during the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock valued at $381,016,000 after acquiring an additional 1,365,629 shares in the last quarter. Phoenix Financial Ltd. raised its position in shares of Wells Fargo & Company by 437.6% in the 2nd quarter. Phoenix Financial Ltd. now owns 1,312,103 shares of the financial services provider’s stock worth $105,120,000 after purchasing an additional 1,068,040 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new stake in Wells Fargo & Company during the 1st quarter valued at about $69,602,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on WFC. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Keefe, Bruyette & Woods upped their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Evercore ISI boosted their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Finally, Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $86.83 on Thursday. The stock has a 50-day simple moving average of $83.53 and a two-hundred day simple moving average of $79.72. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.64. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $272.56 billion, a PE ratio of 14.20, a P/E/G ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the company posted $1.42 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. Analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wells Fargo & Company Profile

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.