Aljian Capital Management LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 15,576 shares of the financial services provider's stock, valued at approximately $1,287,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Godfrey Financial Associates Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter worth approximately $25,000. Miller Capital Partners Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Navalign LLC acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $26,000. Joseph Group Capital Management bought a new position in shares of Wells Fargo & Company in the fourth quarter valued at $28,000. Finally, Phillip James Consulting Co. bought a new position in shares of Wells Fargo & Company in the first quarter valued at $28,000. 75.90% of the stock is owned by institutional investors and hedge funds.
Wells Fargo & Company Stock Performance
Shares of NYSE WFC opened at $83.83 on Friday. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76. The company has a market cap of $253.50 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.91 and a beta of 0.92. The business's 50 day moving average is $86.08 and its two-hundred day moving average is $82.97. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same quarter last year, the firm earned $1.60 EPS. Wells Fargo & Company's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts expect that Wells Fargo & Company will post 7.26 EPS for the current year.
Wells Fargo & Company Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a $0.50 dividend. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.4%. Wells Fargo & Company's dividend payout ratio is presently 29.07%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on WFC shares. Robert W. Baird boosted their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Morgan Stanley raised their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods lowered their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 15th. Bank of America boosted their target price on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. increased their target price on Wells Fargo & Company from $93.50 to $95.50 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.61.
Get Our Latest Stock Report on Wells Fargo & Company
Wells Fargo & Company Profile
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Free Report)
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.
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