Saturna Capital Corp Makes New $205,000 Investment in Wells Fargo & Company $WFC

Saturna Capital Corp bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,558 shares of the financial services provider’s stock, valued at approximately $205,000.

Other large investors also recently bought and sold shares of the company. Access Investment Management LLC acquired a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC boosted its position in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at about $27,000. Motco grew its holdings in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new stake in shares of Wells Fargo & Company during the first quarter worth $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup increased their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods upped their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, UBS Group lowered their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $84.20 on Thursday. The firm has a market cap of $264.30 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.64. The business’s 50 day moving average is $83.94 and its two-hundred day moving average is $80.16. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the prior year, the business earned $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 fiscal year.

Wells Fargo & Company Dividend Announcement

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