Banco Bilbao Vizcaya Argentaria S.A. Boosts Stock Position in Wells Fargo & Company $WFC

Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Wells Fargo & Company (NYSE:WFC) by 3.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 780,757 shares of the financial services provider’s stock after purchasing an additional 22,381 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Wells Fargo & Company were worth $62,536,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WFC. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Wells Fargo & Company by 2,735,254.3% in 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 buying an additional 949,735,001 shares during the last quarter. Strs Ohio purchased a new stake in Wells Fargo & Company in the 1st quarter worth approximately $109,643,000. Canada Pension Plan Investment Board raised its holdings in Wells Fargo & Company by 34.6% in the 1st 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 during the last quarter. Phoenix Financial Ltd. raised its holdings in 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 valued at $105,120,000 after acquiring an additional 1,068,040 shares during the last quarter. Finally, Temasek Holdings Private Ltd purchased a new position in shares of Wells Fargo & Company during the 1st quarter worth $69,602,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. TD Cowen lifted their price objective on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. Citigroup upped their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. UBS Group lowered their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Finally, Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Down 1.9%

Shares of NYSE:WFC opened at $84.66 on Friday. The stock has a 50-day simple moving average of $83.59 and a 200-day simple moving average of $79.75. The stock has a market capitalization of $265.75 billion, a P/E ratio of 13.92, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year 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.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the previous year, the company posted $1.42 earnings per share. Wells Fargo & Company’s revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

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

Wells Fargo & Company 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.