Moody Lynn & Lieberson LLC Raises Holdings in Wells Fargo & Company $WFC

Moody Lynn & Lieberson LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 38.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 205,839 shares of the financial services provider’s stock after purchasing an additional 57,396 shares during the quarter. Wells Fargo & Company comprises about 0.9% of Moody Lynn & Lieberson LLC’s investment portfolio, making the stock its 28th biggest position. Moody Lynn & Lieberson LLC’s holdings in Wells Fargo & Company were worth $17,253,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WFC. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after acquiring an additional 949,735,001 shares in the last quarter. Norges Bank purchased a new stake in Wells Fargo & Company during the second quarter valued at $3,990,551,000. Massachusetts Financial Services Co. MA lifted its position in Wells Fargo & Company by 54.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock valued at $1,332,851,000 after purchasing an additional 5,894,747 shares during the last quarter. Amundi grew its stake in shares of Wells Fargo & Company by 18.2% in the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after buying an additional 2,180,693 shares in the last quarter. Finally, Laurel Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 8,010.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock worth $158,135,000 after buying an additional 1,949,395 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Citigroup increased their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Evercore ISI raised their price objective on Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. UBS Group dropped their target price on 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, Keefe, Bruyette & Woods increased their price target on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a report on Wednesday, December 17th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $92.04.

Wells Fargo & Company Trading Down 0.2%

Shares of NYSE WFC opened at $94.30 on Wednesday. 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 business’s 50 day moving average price is $88.29 and its 200-day moving average price is $83.39. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $95.85. The company has a market cap of $296.02 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.98 and a beta of 1.11.

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

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis 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 currently 29.61%.

Wells Fargo & Company Profile

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.