Sigma Planning Corp Buys 3,623 Shares of Wells Fargo & Company $WFC

Sigma Planning Corp boosted its holdings in Wells Fargo & Company (NYSE:WFC) by 6.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 56,835 shares of the financial services provider’s stock after purchasing an additional 3,623 shares during the period. Sigma Planning Corp’s holdings in Wells Fargo & Company were worth $4,554,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. McElhenny Sheffield Capital Management LLC bought a new stake in Wells Fargo & Company in the second quarter worth $27,000. CBIZ Investment Advisory Services LLC lifted its stake in Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the last quarter. Accent Capital Management LLC bought a new stake in Wells Fargo & Company in the first quarter worth $29,000. Motco lifted its stake in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 326 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its stake in Wells Fargo & Company by 112.9% in the second quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 227 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 0.4%

NYSE:WFC opened at $87.31 on Tuesday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.89. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50-day simple moving average is $82.89 and its 200 day simple moving average is $78.85. The firm has a market capitalization of $279.70 billion, a P/E ratio of 14.36, a PEG ratio of 1.18 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. Wells Fargo & Company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s payout ratio is presently 29.61%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WFC shares. UBS Group lowered their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. TD Cowen boosted their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group decreased their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company 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.