MGO One Seven LLC Grows Stake in Wells Fargo & Company $WFC

MGO One Seven LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 33.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,739 shares of the financial services provider’s stock after purchasing an additional 11,524 shares during the period. MGO One Seven LLC’s holdings in Wells Fargo & Company were worth $3,834,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wells Fargo & Company Price Performance

NYSE WFC opened at $93.55 on Wednesday. The firm’s fifty day simple moving average is $90.02 and its two-hundred day simple moving average is $84.69. The firm has a market capitalization of $293.67 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.87 and a beta of 1.09. 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 has a 12-month low of $58.42 and a 12-month high of $97.76.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.55 by $0.18. The firm had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.42 EPS. Analysts forecast 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 was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a $0.45 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WFC shares. Evercore ISI reiterated an “outperform” rating and set a $110.00 price objective on shares of Wells Fargo & Company in a research note on Tuesday, January 6th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Baird R W downgraded Wells Fargo & Company from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Finally, Citigroup boosted their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Twelve analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.91.

Check Out Our Latest Report on Wells Fargo & Company

Wells Fargo & Company News Summary

Here are the key news stories impacting Wells Fargo & Company this week:

Wells Fargo & Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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