Wells Fargo & Company $WFC Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 8.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,503 shares of the financial services provider’s stock after purchasing an additional 34,017 shares during the period. Wealthfront Advisers LLC’s holdings in Wells Fargo & Company were worth $33,290,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt increased 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 in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Wells Fargo & Company by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock worth $1,471,259,000 after buying an additional 128,207 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Wells Fargo & Company by 277.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock valued at $771,092,000 after acquiring an additional 7,894,919 shares during the last quarter. Pzena Investment Management LLC increased its holdings in Wells Fargo & Company by 5.5% during the 2nd quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock valued at $830,990,000 after acquiring an additional 542,493 shares in the last quarter. Finally, Boston Partners raised its position in Wells Fargo & Company by 6.2% during the first quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock worth $640,616,000 after acquiring an additional 523,107 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

Several analysts have recently commented on WFC shares. Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Morgan Stanley raised their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Cfra Research upgraded Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Finally, Bank of America increased their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $86.35 on Friday. The business’s 50-day moving average price is $81.89 and its 200 day moving average price is $77.72. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company has a market capitalization of $276.61 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.55 by $0.11. 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%.The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.42 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio (DPR) 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.