Intermede Investment Partners Ltd Purchases 281,198 Shares of Wells Fargo & Co (WFC)

Intermede Investment Partners Ltd raised its position in shares of Wells Fargo & Co (NYSE:WFC) by 33.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,131,846 shares of the financial services provider’s stock after purchasing an additional 281,198 shares during the period. Wells Fargo & Co accounts for approximately 5.1% of Intermede Investment Partners Ltd’s portfolio, making the stock its 6th largest holding. Intermede Investment Partners Ltd’s holdings in Wells Fargo & Co were worth $59,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WFC. Ramsay Stattman Vela & Price Inc. lifted its position in shares of Wells Fargo & Co by 1.4% during the first quarter. Ramsay Stattman Vela & Price Inc. now owns 106,009 shares of the financial services provider’s stock worth $5,556,000 after acquiring an additional 1,471 shares in the last quarter. FormulaFolio Investments LLC lifted its position in shares of Wells Fargo & Co by 121.8% during the first quarter. FormulaFolio Investments LLC now owns 13,473 shares of the financial services provider’s stock worth $706,000 after acquiring an additional 7,398 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of Wells Fargo & Co by 4.8% during the first quarter. Alps Advisors Inc. now owns 865,249 shares of the financial services provider’s stock worth $45,348,000 after acquiring an additional 39,417 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Wells Fargo & Co by 29.2% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 409,808 shares of the financial services provider’s stock worth $21,478,000 after acquiring an additional 92,597 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC lifted its position in shares of Wells Fargo & Co by 8.3% during the first quarter. Wealthstreet Investment Advisors LLC now owns 62,634 shares of the financial services provider’s stock worth $3,283,000 after acquiring an additional 4,796 shares in the last quarter. 76.18% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Co opened at $54.67 on Friday, according to Marketbeat.com. Wells Fargo & Co has a twelve month low of $49.27 and a twelve month high of $66.31. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.27. The stock has a market cap of $269.54 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.49 and a beta of 1.13.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.05. Wells Fargo & Co had a return on equity of 12.46% and a net margin of 22.80%. The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $21.74 billion. During the same quarter last year, the business posted $1.00 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. analysts predict that Wells Fargo & Co will post 4.57 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 4th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.85%. Wells Fargo & Co’s payout ratio is 37.96%.

A number of equities research analysts recently issued reports on the company. Sandler O’Neill reiterated a “buy” rating and issued a $64.00 price objective on shares of Wells Fargo & Co in a research report on Friday, April 13th. Bank of America lowered their price objective on Wells Fargo & Co from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Vetr upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $54.10 price objective on the stock in a research report on Wednesday, April 11th. Barclays lowered their price objective on Wells Fargo & Co from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, April 16th. Finally, Morgan Stanley downgraded Wells Fargo & Co from an “equal weight” rating to an “underweight” rating in a research report on Monday, February 5th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the stock. Wells Fargo & Co currently has a consensus rating of “Hold” and a consensus target price of $61.83.

Wells Fargo & Co Company Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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