MASTERINVEST Kapitalanlage GmbH Purchases New Shares in Wells Fargo & Company $WFC

MASTERINVEST Kapitalanlage GmbH acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,968 shares of the financial services provider’s stock, valued at approximately $1,359,000.

Other hedge funds have also modified their holdings of the company. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Wells Fargo & Company by 10.4% in 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 purchasing an additional 71,740 shares during the last quarter. Three Bridge Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter worth $364,000. NatWest Group plc raised its holdings in shares of Wells Fargo & Company by 4.6% during the 1st quarter. NatWest Group plc now owns 180,418 shares of the financial services provider’s stock worth $12,952,000 after acquiring an additional 7,934 shares during the period. Board of the Pension Protection Fund purchased a new position in shares of Wells Fargo & Company during the 2nd quarter worth $40,000. Finally, Truvestments Capital LLC boosted its position in shares of Wells Fargo & Company by 4,148.2% during the 1st quarter. Truvestments Capital LLC now owns 30,332 shares of the financial services provider’s stock valued at $2,178,000 after acquiring an additional 29,618 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of several recent analyst reports. UBS Group cut their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Citigroup increased their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Finally, Keefe, Bruyette & Woods upped their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.04.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $92.76 on Monday. The company’s 50 day simple moving average is $85.51 and its 200-day simple moving average is $81.80. 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 1 year low of $58.42 and a 1 year high of $93.42. The company has a market capitalization of $291.18 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.11.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results 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 firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.42 EPS. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 29.61%.

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.