Fountainhead AM LLC Acquires 1,801 Shares of Wells Fargo & Company $WFC

Fountainhead AM LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 43.3% in the 2nd quarter, Holdings Channel reports. The fund owned 5,960 shares of the financial services provider’s stock after purchasing an additional 1,801 shares during the quarter. Fountainhead AM LLC’s holdings in Wells Fargo & Company were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after purchasing an additional 949,735,001 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Wells Fargo & Company by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 20,497,429 shares of the financial services provider’s stock valued at $1,471,259,000 after buying an additional 128,207 shares during the period. Massachusetts Financial Services Co. MA grew its position in Wells Fargo & Company by 277.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after buying an additional 7,894,919 shares in the last quarter. Pzena Investment Management LLC increased its stake in Wells Fargo & Company by 5.5% during the second 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 during the period. Finally, Boston Partners raised its holdings in Wells Fargo & Company by 6.2% in the 1st quarter. Boston Partners now owns 8,953,009 shares of the financial services provider’s stock valued at $640,616,000 after acquiring an additional 523,107 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.0%

Shares of WFC opened at $86.05 on Monday. The stock has a fifty day moving average price of $83.25 and a two-hundred day moving average price of $79.44. 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 $88.50. The company has a market cap of $270.11 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.18 and a beta of 1.22.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.11 billion. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.42 earnings per share. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on WFC. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of 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. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

About Wells Fargo & Company

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.