Unisphere Establishment Acquires Shares of 100,900 Wells Fargo & Company $WFC

Unisphere Establishment bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the first quarter, Holdings Channel.com reports. The fund bought 100,900 shares of the financial services provider’s stock, valued at approximately $8,033,000.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after buying an additional 25,436 shares during the period. Jump Financial LLC boosted its holdings in shares of Wells Fargo & Company by 12.9% in the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock valued at $1,835,000 after acquiring an additional 2,615 shares during the period. Main Street Financial Solutions LLC boosted its holdings in shares of Wells Fargo & Company by 111.0% in the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock valued at $1,122,000 after acquiring an additional 7,368 shares during the period. Vivaldi Capital Management LP boosted its holdings in shares of Wells Fargo & Company by 5.4% in the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after acquiring an additional 165 shares during the period. Finally, Diversify Advisory Services LLC grew its position in shares of Wells Fargo & Company by 51.2% during the second quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock worth $2,044,000 after acquiring an additional 8,714 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WFC. JPMorgan Chase & Co. lifted their target price on shares of Wells Fargo & Company from $86.50 to $93.50 and gave the company a “neutral” rating in a report on Monday, July 6th. Robert W. Baird increased their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Barclays lowered their price objective on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.50.

Wells Fargo & Company Trading Up 0.2%

Shares of WFC stock opened at $86.39 on Friday. The business’s 50 day moving average is $82.72 and its two-hundred day moving average is $83.51. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a market capitalization of $264.37 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 0.94 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 26.16%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.