Girard Partners LTD. Acquires 4,329 Shares of Wells Fargo & Company (WFC)
Girard Partners LTD. raised its holdings in Wells Fargo & Company (NYSE:WFC) by 6.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,647 shares of the financial services provider’s stock after purchasing an additional 4,329 shares during the period. Girard Partners LTD.’s holdings in Wells Fargo & were worth $4,192,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Boston Partners boosted its holdings in Wells Fargo & by 140.1% in the 2nd quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after purchasing an additional 11,139,780 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in Wells Fargo & by 49.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock valued at $540,657,000 after purchasing an additional 3,214,592 shares during the period. APG Asset Management N.V. boosted its holdings in Wells Fargo & by 38.8% in the 2nd quarter. APG Asset Management N.V. now owns 9,587,279 shares of the financial services provider’s stock valued at $531,231,000 after purchasing an additional 2,681,497 shares during the period. USS Investment Management Ltd boosted its holdings in Wells Fargo & by 62.7% in the 2nd quarter. USS Investment Management Ltd now owns 6,359,300 shares of the financial services provider’s stock valued at $352,464,000 after purchasing an additional 2,450,000 shares during the period. Finally, Karp Capital Management Corp bought a new stake in Wells Fargo & in the 1st quarter valued at about $90,858,000. 74.88% of the stock is owned by hedge funds and other institutional investors.
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A number of research firms have issued reports on WFC. Royal Bank Of Canada reissued a “buy” rating and issued a $60.00 price objective on shares of Wells Fargo & in a report on Wednesday, November 15th. Vetr cut shares of Wells Fargo & from a “hold” rating to a “sell” rating and set a $53.07 target price for the company. in a research report on Monday, October 2nd. Instinet restated a “buy” rating and issued a $65.00 target price (up from $64.00) on shares of Wells Fargo & in a research report on Saturday, September 30th. Nomura boosted their target price on shares of Wells Fargo & from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, September 28th. Finally, BMO Capital Markets upgraded shares of Wells Fargo & from an “underperform” rating to a “market perform” rating and dropped their target price for the company from $50.00 to $47.00 in a research report on Monday, July 31st. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Wells Fargo & has an average rating of “Hold” and a consensus target price of $57.20.
Shares of Wells Fargo & Company (WFC) opened at $54.05 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.89. Wells Fargo & Company has a 12 month low of $49.27 and a 12 month high of $59.99. The company has a market cap of $266,350.00, a price-to-earnings ratio of 13.08, a PEG ratio of 1.30 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Zacks’ 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 during the quarter, compared to the consensus estimate of $22.30 billion. During the same period in the prior year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. sell-side analysts anticipate that Wells Fargo & Company will post 3.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.
Wells Fargo & Company 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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