3,236 Shares in Wells Fargo & Company $WFC Acquired by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, Holdings Channel.com reports. The fund bought 3,236 shares of the financial services provider’s stock, valued at approximately $259,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter worth approximately $399,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Wells Fargo & Company by 10.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock valued at $54,471,000 after acquiring an additional 71,740 shares in the last quarter. Three Bridge Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $364,000. Allianz SE raised its position in shares of Wells Fargo & Company by 22.6% during the first quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after purchasing an additional 39,150 shares during the period. Finally, NatWest Group plc lifted its holdings in shares of Wells Fargo & Company by 4.6% in the 1st quarter. NatWest Group plc now owns 180,418 shares of the financial services provider’s stock worth $12,952,000 after purchasing an additional 7,934 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $84.66 on Friday. The stock has a 50 day moving average of $83.59 and a 200 day moving average of $79.75. The company has a market capitalization of $265.75 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.64. 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 (NYSE:WFC) last announced 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. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter in the prior year, the company earned $1.42 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 yield of 2.1%. The ex-dividend date is Friday, November 7th. Wells Fargo & Company’s payout ratio is presently 29.61%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Finally, Barclays raised their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Wells Fargo & Company currently has an average rating of “Moderate Buy” and an average price target of $89.57.

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.