Wells Fargo & Company (NYSE:WFC) Shares Purchased by Wetherby Asset Management Inc.

Wetherby Asset Management Inc. boosted its position in Wells Fargo & Company (NYSE:WFCGet Rating) by 8.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,146 shares of the financial services provider’s stock after buying an additional 4,772 shares during the period. Wetherby Asset Management Inc.’s holdings in Wells Fargo & Company were worth $2,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of WFC. Paradigm Financial Partners LLC purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $246,000. Acadian Asset Management LLC boosted its position in Wells Fargo & Company by 2.9% in the 4th quarter. Acadian Asset Management LLC now owns 140,091 shares of the financial services provider’s stock worth $6,718,000 after purchasing an additional 3,978 shares in the last quarter. BRYN MAWR TRUST Co boosted its position in Wells Fargo & Company by 32.7% in the 4th quarter. BRYN MAWR TRUST Co now owns 6,495 shares of the financial services provider’s stock worth $311,000 after purchasing an additional 1,599 shares in the last quarter. L2 Asset Management LLC purchased a new stake in Wells Fargo & Company in the 4th quarter worth approximately $276,000. Finally, Exencial Wealth Advisors LLC boosted its position in Wells Fargo & Company by 33.9% in the 4th quarter. Exencial Wealth Advisors LLC now owns 7,526 shares of the financial services provider’s stock worth $361,000 after purchasing an additional 1,905 shares in the last quarter. Hedge funds and other institutional investors own 72.23% of the company’s stock.

Wells Fargo & Company Trading Up 0.2 %

Shares of WFC opened at $45.33 on Friday. The company has a market capitalization of $171.94 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.11 and a beta of 1.16. Wells Fargo & Company has a one year low of $36.54 and a one year high of $60.30. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a 50-day moving average price of $43.19 and a 200 day moving average price of $44.89.

Wells Fargo & Company (NYSE:WFCGet Rating) last issued its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.14). The business had revenue of $17.03 billion during the quarter, compared to analysts’ expectations of $17.54 billion. Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 EPS. Sell-side analysts forecast that Wells Fargo & Company will post 4 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.65%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.25. Wells Fargo & Company’s dividend payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WFC shares. Citigroup lowered their price objective on Wells Fargo & Company from $56.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, July 12th. Jefferies Financial Group decreased their target price on Wells Fargo & Company from $55.00 to $47.00 in a research report on Monday, July 11th. Credit Suisse Group reduced their price objective on Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating for the company in a research note on Monday, July 18th. Royal Bank of Canada reduced their price objective on Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 1st. Finally, Morgan Stanley raised their target price on Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and a consensus price target of $55.72.

Wells Fargo & Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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

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