Analyst IMS Investment Management Services Ltd. Buys 278 Shares of Wells Fargo & Company (WFC)
Analyst IMS Investment Management Services Ltd. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,082 shares of the financial services provider’s stock after buying an additional 278 shares during the period. Analyst IMS Investment Management Services Ltd.’s holdings in Wells Fargo & were worth $1,113,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brick & Kyle Associates boosted its stake in Wells Fargo & by 9.5% during the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in shares of Wells Fargo & in the 2nd quarter valued at $104,000. Delphi Private Advisors LLC lifted its stake in shares of Wells Fargo & by 262.8% in the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 1,461 shares during the last quarter. Clear Investment Research LLC acquired a new position in shares of Wells Fargo & in the 2nd quarter valued at $121,000. Finally, Signature Estate & Investment Advisors LLC acquired a new position in shares of Wells Fargo & in the 1st quarter valued at $124,000. 75.04% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on WFC. Vetr lowered Wells Fargo & from a “hold” rating to a “sell” rating and set a $54.49 price target on the stock. in a research note on Thursday, November 2nd. Instinet reaffirmed a “buy” rating and issued a $65.00 price target (up previously from $64.00) on shares of Wells Fargo & in a research note on Saturday, September 30th. Nomura upped their price target on Wells Fargo & from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, September 28th. BMO Capital Markets raised Wells Fargo & from an “underperform” rating to a “market perform” rating and decreased their price target for the company from $50.00 to $47.00 in a research note on Monday, July 31st. They noted that the move was a valuation call. Finally, Vertical Group began coverage on Wells Fargo & in a research note on Friday, October 6th. They issued a “sell” rating on the stock. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. Wells Fargo & presently has a consensus rating of “Hold” and an average price target of $57.20.
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Wells Fargo & Company (NYSE:WFC) opened at $53.81 on Friday. The stock has a market capitalization of $265,170.00, a P/E ratio of 13.11, a PEG ratio of 1.31 and a beta of 0.97. Wells Fargo & Company has a one year low of $49.27 and a one year high of $59.99. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.89 and a current ratio of 0.91.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). The firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. research analysts anticipate that Wells Fargo & Company will post 3.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio (DPR) is 40.31%.
About Wells Fargo &
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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