S Bank Fund Management Ltd Grows Position in Wells Fargo & Company $WFC

S Bank Fund Management Ltd boosted its stake in Wells Fargo & Company (NYSE:WFC) by 26.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,847 shares of the financial services provider’s stock after acquiring an additional 29,846 shares during the period. Wells Fargo & Company accounts for approximately 1.6% of S Bank Fund Management Ltd’s holdings, making the stock its 13th biggest holding. S Bank Fund Management Ltd’s holdings in Wells Fargo & Company were worth $11,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hilton Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at $3,656,000. Three Bridge Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company in the second quarter worth approximately $364,000. Board of the Pension Protection Fund purchased a new position in shares of Wells Fargo & Company during the second quarter valued at approximately $40,000. Canoe Financial LP lifted its position in Wells Fargo & Company by 21.7% during the second quarter. Canoe Financial LP now owns 3,394,260 shares of the financial services provider’s stock valued at $271,948,000 after purchasing an additional 604,930 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in Wells Fargo & Company in the third quarter worth approximately $10,729,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company News Summary

Here are the key news stories impacting Wells Fargo & Company this week:

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $95.00 on Tuesday. The stock has a market cap of $298.20 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 0.88 and a beta of 1.09. The firm has a fifty day moving average price of $89.89 and a 200-day moving average price of $84.59. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76.

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

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of research reports. UBS Group decreased 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 research note on Tuesday, October 7th. Baird R W downgraded Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Keefe, Bruyette & Woods boosted their price target on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Bank of America upped their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Robert W. Baird reissued an “underperform” rating and issued a $90.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, January 6th. Twelve investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $93.91.

Read Our Latest Research Report on WFC

Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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