Longbow Finance SA Has $12.47 Million Stock Position in Wells Fargo & Company $WFC

Longbow Finance SA boosted its stake in Wells Fargo & Company (NYSE:WFC) by 21.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 148,726 shares of the financial services provider’s stock after acquiring an additional 26,355 shares during the period. Wells Fargo & Company accounts for about 1.2% of Longbow Finance SA’s holdings, making the stock its 23rd biggest position. Longbow Finance SA’s holdings in Wells Fargo & Company were worth $12,466,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in WFC. Access Investment Management LLC bought a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $25,000. Marquette Asset Management LLC boosted its stake in Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares during the period. Grey Fox Wealth Advisors LLC purchased a new position in Wells Fargo & Company during the third quarter worth about $30,000. Kilter Group LLC purchased a new stake in Wells Fargo & Company in the second quarter valued at approximately $31,000. Finally, Aventus Investment Advisors Inc. bought a new stake in shares of Wells Fargo & Company during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WFC. UBS Group restated a “buy” rating and issued a $113.00 target price on shares of Wells Fargo & Company in a report on Wednesday, February 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of Wells Fargo & Company in a report on Thursday, January 15th. TD Cowen dropped their target price on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a report on Thursday, January 15th. Robert W. Baird downgraded shares of Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 6th. Finally, Evercore lowered their price target on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and an average target price of $97.29.

Wells Fargo & Company Price Performance

WFC opened at $86.18 on Friday. The company’s 50-day simple moving average is $91.86 and its two-hundred day simple moving average is $85.85. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The stock has a market capitalization of $270.53 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.97 and a beta of 1.09. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.43 earnings per share. As a group, analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is 28.71%.

About Wells Fargo & Company

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.