VestGen Investment Management Boosts Stock Holdings in Wells Fargo & Company $WFC

VestGen Investment Management boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 320.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,185 shares of the financial services provider’s stock after buying an additional 9,288 shares during the period. VestGen Investment Management’s holdings in Wells Fargo & Company were worth $976,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WFC. Brighton Jones LLC grew 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 acquiring an additional 25,436 shares in the last quarter. GAMMA Investing LLC lifted its position in Wells Fargo & Company by 11.3% during the first quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock valued at $3,393,000 after purchasing an additional 4,786 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Wells Fargo & Company by 39.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 529,952 shares of the financial services provider’s stock valued at $38,045,000 after purchasing an additional 151,108 shares during the last quarter. Western Wealth Management LLC lifted its position in Wells Fargo & Company by 13.5% during the first quarter. Western Wealth Management LLC now owns 13,775 shares of the financial services provider’s stock valued at $989,000 after purchasing an additional 1,635 shares during the last quarter. Finally, Money Concepts Capital Corp bought a new position in Wells Fargo & Company during the first quarter valued at $529,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, October 15th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Bank of America raised their target price on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Citigroup raised their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Stock Up 2.2%

Shares of Wells Fargo & Company stock opened at $86.35 on Friday. The company has a market cap of $276.61 billion, a P/E ratio of 14.20, a PEG ratio of 1.19 and a beta of 1.25. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The firm’s 50 day moving average price is $81.89 and its 200-day moving average price is $77.72.

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

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) is 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.