Simon Quick Advisors LLC Buys 1,761 Shares of Wells Fargo & Company $WFC

Simon Quick Advisors LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 9.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,246 shares of the financial services provider’s stock after purchasing an additional 1,761 shares during the quarter. Simon Quick Advisors LLC’s holdings in Wells Fargo & Company were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC grew its position in Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 322 shares during the last quarter. Accent Capital Management LLC bought a new stake in Wells Fargo & Company during the 1st quarter worth $29,000. Motco grew its position in Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 326 shares during the last quarter. Finally, Nova Wealth Management Inc. grew its position in Wells Fargo & Company by 112.9% during the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 227 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WFC shares. Dbs Bank upgraded Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Barclays boosted their price objective on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Morgan Stanley boosted their price objective 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 raised Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Trading Down 0.1%

NYSE:WFC opened at $85.92 on Friday. The firm’s fifty day moving average is $82.59 and its 200-day moving average is $78.32. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47. The firm has a market cap of $275.23 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.18 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. The company had revenue of $21.44 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 EPS. Equities analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 29.61%.

Wells Fargo & Company 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.