Mn Services Vermogensbeheer B.V. Boosts Position in Wells Fargo & Company $WFC

Mn Services Vermogensbeheer B.V. increased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,238,100 shares of the financial services provider’s stock after buying an additional 18,700 shares during the period. Wells Fargo & Company accounts for approximately 0.7% of Mn Services Vermogensbeheer B.V.’s portfolio, making the stock its 21st largest holding. Mn Services Vermogensbeheer B.V.’s holdings in Wells Fargo & Company were worth $103,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Access Investment Management LLC bought a new stake in Wells Fargo & Company during the second quarter worth about $25,000. Marquette Asset Management LLC boosted its stake in shares of Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 274 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at $27,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Wells Fargo & Company in the third quarter worth about $30,000. Finally, Kilter Group LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter worth approximately $31,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Down 1.2%

WFC stock opened at $87.00 on Friday. The firm has a fifty day moving average price of $90.33 and a 200 day moving average price of $84.97. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The firm has a market cap of $273.11 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same period last year, the company earned $1.43 earnings per share. Wells Fargo & Company’s revenue was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share 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. Stockholders of record on Friday, November 7th were issued a $0.45 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s payout ratio is currently 28.71%.

Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. HSBC reiterated a “hold” rating and set a $74.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Bank of America boosted their price target on 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 boosted their price objective on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $94.87.

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.