12,889 Shares in Wells Fargo & Company $WFC Purchased by Shakespeare Wealth Management LLC

Key Points

• Shakespeare Wealth Management purchased 12,889 Wells Fargo shares worth approximately $1.03 million in the third quarter, while institutional investors collectively own 75.9% of the company.
• Analyst sentiment remains positive but mixed: Wells Fargo has a “Moderate Buy” consensus rating and an average price target of $98.08, despite several analysts recently reducing their targets.
• Wells Fargo reported quarterly EPS of $1.87, slightly above estimates, and announced a quarterly dividend of $0.50 per share, equivalent to a 2.4% yield.

Shakespeare Wealth Management LLC acquired a new position in Wells Fargo & Company (NYSE:WFC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,889 shares of the financial services provider's stock, valued at approximately $1,032,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Essential Investment Partners LLC grew its position in shares of Wells Fargo & Company by 44.2% during the 3rd quarter. Essential Investment Partners LLC now owns 2,086 shares of the financial services provider's stock worth $167,000 after buying an additional 639 shares in the last quarter. BOKF NA increased its stake in shares of Wells Fargo & Company by 1.5% during the third quarter. BOKF NA now owns 155,070 shares of the financial services provider's stock valued at $12,413,000 after buying an additional 2,272 shares during the period. North Dakota State Investment Board increased its stake in shares of Wells Fargo & Company by 5.9% during the third quarter. North Dakota State Investment Board now owns 95,660 shares of the financial services provider's stock valued at $7,658,000 after buying an additional 5,351 shares during the period. Stockman Wealth Management Inc. raised its holdings in shares of Wells Fargo & Company by 16.9% in the third quarter. Stockman Wealth Management Inc. now owns 9,863 shares of the financial services provider's stock valued at $790,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 1.2% in the third quarter. Laurel Wealth Advisors LLC now owns 25,910 shares of the financial services provider's stock valued at $2,074,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Wells Fargo & Company from $90.00 to $88.00 and set a "neutral" rating for the company in a research note on Wednesday, October 14th. HSBC initiated coverage on shares of Wells Fargo & Company in a research report on Monday, September 28th. They set a "buy" rating and a $108.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on shares of Wells Fargo & Company from $94.00 to $90.00 and set a "market perform" rating for the company in a report on Wednesday, October 14th. Royal Bank Of Canada lowered their price target on shares of Wells Fargo & Company from $100.00 to $92.00 and set an "outperform" rating for the company in a research report on Wednesday, October 14th. Finally, Robert W. Baird upped their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.08.

Wells Fargo & Company Trading Up 1.3%

Shares of NYSE:WFC opened at $83.77 on Thursday. Wells Fargo & Company has a 12-month low of $72.78 and a 12-month high of $97.76. The business's fifty day simple moving average is $84.36 and its 200-day simple moving average is $83.81. The company has a market capitalization of $253.32 billion, a PE ratio of 11.82, a P/E/G ratio of 0.88 and a beta of 0.96. The company has a current ratio of 0.89, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, October 13th. The financial services provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The firm had revenue of $21.87 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & Company had a return on equity of 14.05% and a net margin of 17.64%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 EPS. As a group, equities research analysts predict that Wells Fargo & Company will post 7.27 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, November 6th. Wells Fargo & Company's payout ratio is 28.21%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.

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