Addenda Capital Inc. decreased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 154,611 shares of the financial services provider’s stock after selling 5,365 shares during the period. Addenda Capital Inc.’s holdings in Wells Fargo & were worth $8,420,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. KBC Group NV lifted its holdings in Wells Fargo & by 5.7% during the 2nd quarter. KBC Group NV now owns 1,122,871 shares of the financial services provider’s stock worth $62,218,000 after purchasing an additional 60,765 shares in the last quarter. Texas Yale Capital Corp. lifted its holdings in Wells Fargo & by 2.2% during the 2nd quarter. Texas Yale Capital Corp. now owns 47,608 shares of the financial services provider’s stock worth $2,638,000 after purchasing an additional 1,036 shares in the last quarter. Gould Asset Management LLC CA lifted its holdings in Wells Fargo & by 11.5% during the 2nd quarter. Gould Asset Management LLC CA now owns 9,461 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 978 shares in the last quarter. First Personal Financial Services lifted its holdings in Wells Fargo & by 0.9% during the 2nd quarter. First Personal Financial Services now owns 26,452 shares of the financial services provider’s stock worth $1,465,000 after purchasing an additional 235 shares in the last quarter. Finally, Bridgewater Wealth & Financial Management LLC lifted its holdings in Wells Fargo & by 23.8% during the 2nd quarter. Bridgewater Wealth & Financial Management LLC now owns 7,421 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 1,427 shares in the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Wells Fargo & Company (WFC) opened at $56.35 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The stock has a market cap of $279,718.22, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.36 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.30 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. equities analysts forecast that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.77%. Wells Fargo &’s dividend payout ratio is presently 40.31%.
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A number of analysts recently issued reports on the company. Vetr cut Wells Fargo & from a “hold” rating to a “sell” rating and set a $54.49 price objective on the stock. in a report on Thursday. Instinet reaffirmed a “buy” rating and issued a $65.00 price target (up previously from $64.00) on shares of Wells Fargo & in a report on Saturday, September 30th. Nomura raised their price target on Wells Fargo & from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, September 28th. BMO Capital Markets raised Wells Fargo & from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $50.00 to $47.00 in a report on Monday, July 31st. They noted that the move was a valuation call. Finally, Vertical Group assumed coverage on Wells Fargo & in a report on Friday, October 6th. They issued a “sell” rating on the stock. Seven analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Wells Fargo & presently has an average rating of “Hold” and an average price target of $57.20.
Wells Fargo & 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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