19,100 Shares in Wells Fargo & Company $WFC Acquired by iSAM Funds UK Ltd

iSAM Funds UK Ltd purchased a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, Holdings Channel reports. The fund purchased 19,100 shares of the financial services provider’s stock, valued at approximately $1,578,000. Wells Fargo & Company accounts for 1.1% of iSAM Funds UK Ltd’s holdings, making the stock its 15th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after purchasing an additional 25,436 shares during the last quarter. Jump Financial LLC raised its holdings in Wells Fargo & Company by 12.9% during the 2nd quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock valued at $1,835,000 after buying an additional 2,615 shares during the last quarter. Main Street Financial Solutions LLC raised its holdings in Wells Fargo & Company by 111.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 7,368 shares during the last quarter. Vivaldi Capital Management LP boosted its position in Wells Fargo & Company by 5.4% during the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after buying an additional 165 shares during the period. Finally, Diversify Advisory Services LLC boosted its position in Wells Fargo & Company by 51.2% during the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after buying an additional 8,714 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Keefe, Bruyette & Woods dropped their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a report on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Morgan Stanley boosted their price target on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Finally, Bank of America increased their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $98.61.

Wells Fargo & Company Trading Up 2.6%

NYSE:WFC opened at $89.28 on Thursday. The company has a 50-day moving average price of $86.48 and a 200-day moving average price of $82.59. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock has a market cap of $269.98 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 0.95 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The company had revenue of $22.62 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the company earned $1.60 earnings per share. Wells Fargo & Company’s quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts predict that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s payout ratio is presently 29.07%.

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.