Wells Fargo & Company $WFC Shares Bought by QV Investors Inc.

QV Investors Inc. grew its stake in Wells Fargo & Company (NYSE:WFC) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,497 shares of the financial services provider’s stock after buying an additional 230 shares during the period. QV Investors Inc.’s holdings in Wells Fargo & Company were worth $2,764,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WFC. Brighton Jones LLC boosted its holdings in shares of Wells Fargo & Company by 62.3% in the 4th 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. GAMMA Investing LLC boosted its holdings in shares of Wells Fargo & Company by 11.3% in the 1st quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock valued at $3,393,000 after buying an additional 4,786 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Wells Fargo & Company by 39.9% in the 1st 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 buying an additional 151,108 shares in the last quarter. Western Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 13.5% in the 1st quarter. Western Wealth Management LLC now owns 13,775 shares of the financial services provider’s stock valued at $989,000 after buying an additional 1,635 shares in the last quarter. Finally, Money Concepts Capital Corp acquired a new position in shares of Wells Fargo & Company in the 1st quarter valued at $529,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.2%

WFC stock opened at $86.35 on Friday. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47. The stock has a market capitalization of $276.61 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average of $81.89 and a 200-day moving average of $77.72.

Wells Fargo & Company (NYSE:WFC) last released its earnings results 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 company had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter last year, the business earned $1.42 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is 29.61%.

Wall Street Analysts Forecast Growth

WFC has been the subject of several research analyst reports. UBS Group lowered their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday. Barclays increased their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Cowen reiterated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently 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.