57,687 Shares in Wells Fargo & Company $WFC Purchased by ABN AMRO Bank N.V.

ABN AMRO Bank N.V. bought a new position in Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 57,687 shares of the financial services provider’s stock, valued at approximately $4,837,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFC. Hidden Cove Wealth Management LLC increased its holdings in Wells Fargo & Company by 2.0% during the 3rd quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock worth $499,000 after acquiring an additional 119 shares during the period. Zullo Investment Group Inc. grew its position in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Zullo Investment Group Inc. now owns 6,340 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 122 shares in the last quarter. Embree Financial Group increased its holdings in shares of Wells Fargo & Company by 3.9% in the third quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 126 shares during the period. Trust Co. of Vermont raised its position in shares of Wells Fargo & Company by 1.1% in the third quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock worth $1,014,000 after buying an additional 126 shares in the last quarter. Finally, Traphagen Investment Advisors LLC raised its position in shares of Wells Fargo & Company by 2.0% in the third quarter. Traphagen Investment Advisors LLC now owns 6,346 shares of the financial services provider’s stock worth $532,000 after buying an additional 127 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 1.2%

Shares of NYSE WFC opened at $92.05 on Friday. The stock has a market capitalization of $288.96 billion, a P/E ratio of 14.68, a PEG ratio of 1.02 and a beta of 1.09. Wells Fargo & Company has a one year low of $58.42 and a one year high of $97.76. The firm’s 50 day simple moving average is $91.48 and its two-hundred day simple moving average is $85.56. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. During the same period in the previous year, the business posted $1.43 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on WFC shares. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday, January 21st. Freedom Capital cut shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 15th. Barclays lifted their target price on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. UBS Group reissued a “buy” rating and issued a $113.00 price target on shares of Wells Fargo & Company in a report on Wednesday. Finally, Evercore ISI lowered their price objective on shares of Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, January 15th. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.92.

Wells Fargo & Company Profile

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.