Latash Investments LLC Has $113.62 Million Stake in Wells Fargo & Company $WFC

Latash Investments LLC trimmed its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,423,900 shares of the financial services provider’s stock after selling 37,000 shares during the quarter. Wells Fargo & Company makes up 87.8% of Latash Investments LLC’s portfolio, making the stock its biggest position. Latash Investments LLC’s holdings in Wells Fargo & Company were worth $113,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares in the last quarter. J. Safra Sarasin Holding AG increased its holdings in shares of Wells Fargo & Company by 24.5% in the 1st quarter. J. Safra Sarasin Holding AG now owns 4,500 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 886 shares during the last quarter. ING Groep NV raised its position in shares of Wells Fargo & Company by 16.0% during the 1st quarter. ING Groep NV now owns 130,251 shares of the financial services provider’s stock valued at $9,351,000 after acquiring an additional 17,972 shares in the last quarter. Thoroughbred Financial Services LLC lifted its stake in Wells Fargo & Company by 3.2% during the first quarter. Thoroughbred Financial Services LLC now owns 57,130 shares of the financial services provider’s stock worth $4,101,000 after purchasing an additional 1,753 shares during the last quarter. Finally, Cary Street Partners Financial LLC boosted its holdings in Wells Fargo & Company by 14.0% in the first quarter. Cary Street Partners Financial LLC now owns 13,529 shares of the financial services provider’s stock worth $971,000 after purchasing an additional 1,662 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Bank of America increased their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Barclays upped their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. UBS Group dropped their price target on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Finally, Citigroup raised their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $86.37 on Wednesday. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.64. The company has a market cap of $271.13 billion, a PE ratio of 14.21, a P/E/G ratio of 1.18 and a beta of 1.11. The stock has a 50 day simple moving average of $84.31 and a 200-day simple moving average of $80.86. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter in the previous year, the business earned $1.42 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.