Wells Fargo & Company $WFC Stake Raised by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC raised its holdings in Wells Fargo & Company (NYSE:WFC) by 6.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,138,429 shares of the financial services provider’s stock after purchasing an additional 202,503 shares during the quarter. Wells Fargo & Company accounts for approximately 1.8% of Brandywine Global Investment Management LLC’s investment portfolio, making the stock its 7th biggest holding. Brandywine Global Investment Management LLC owned 0.10% of Wells Fargo & Company worth $251,451,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Access Investment Management LLC acquired a new position in Wells Fargo & Company in the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC increased its holdings in shares of 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 valued at $27,000 after purchasing an additional 322 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter valued at approximately $27,000. Motco lifted its stake in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the period. Finally, Accent Capital Management LLC purchased a new stake in Wells Fargo & Company during the first quarter worth $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WFC shares. TD Cowen lifted their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods raised their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research report on Wednesday, October 15th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Finally, Morgan Stanley lifted their price target on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.57.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $82.47 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a 50 day moving average price of $83.96 and a 200 day moving average price of $80.18. The company has a market capitalization of $258.88 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $88.64.

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 for the quarter, beating the consensus estimate of $1.55 by $0.18. The business had revenue of $21.44 billion during 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 company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 earnings per share. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is presently 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.