Rathbone Brothers plc increased its position in Wells Fargo & Company (NYSE:WFC) by 4.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,851 shares of the financial services provider’s stock after purchasing an additional 2,745 shares during the quarter. Rathbone Brothers plc’s holdings in Wells Fargo & Company were worth $3,316,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of WFC. Delphi Private Advisors LLC grew its stake in Wells Fargo & Company by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,461 shares during the last quarter. Brick & Kyle Associates grew its stake in Wells Fargo & Company by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after buying an additional 162 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at about $104,000. Patriot Financial Group Insurance Agency LLC grew its stake in Wells Fargo & Company by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock valued at $106,000 after buying an additional 6 shares during the last quarter. Finally, Clear Investment Research LLC acquired a new position in Wells Fargo & Company in the 2nd quarter valued at about $121,000. 75.77% of the stock is currently owned by institutional investors.
A number of research analysts recently commented on WFC shares. Keefe, Bruyette & Woods set a $61.00 price target on shares of Wells Fargo & Company and gave the company a “buy” rating in a research note on Friday, August 25th. UBS set a $57.00 price target on shares of Wells Fargo & Company and gave the company a “neutral” rating in a research note on Friday, October 6th. Vetr upgraded shares of Wells Fargo & Company from a “sell” rating to a “strong-buy” rating in a research note on Monday, November 6th. BMO Capital Markets upped their price target on shares of Wells Fargo & Company from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 11th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.25.
Wells Fargo & Company (WFC) traded down $0.27 during midday trading on Monday, hitting $56.20. 31,242,400 shares of the company traded hands, compared to its average volume of 18,183,006. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. The firm has a market cap of $276,743.47, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.35 and a beta of 0.96. Wells Fargo & Company has a twelve month low of $49.27 and a twelve month high of $59.99.
Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The firm had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a return on equity of 12.59% and a net margin of 22.00%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. equities research analysts predict that Wells Fargo & Company will post 3.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 3rd were given a dividend of $0.39 per share. The ex-dividend date was Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.78%. Wells Fargo & Company’s dividend payout ratio is 40.31%.
In related news, insider John R. Shrewsberry sold 70,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.90, for a total value of $3,983,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Richard Levy sold 97,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $56.47, for a total transaction of $5,477,590.00. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.
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Wells Fargo & Company Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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