AlphaGrep UK Ltd Acquires New Stake in Wells Fargo & Company $WFC

AlphaGrep UK Ltd purchased a new position in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,163 shares of the financial services provider's stock, valued at approximately $923,000.

Several other large investors also recently added to or reduced their stakes in the company. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $25,000. Miller Capital Partners Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter valued at $25,000. Navalign LLC bought a new position in Wells Fargo & Company in the fourth quarter valued at about $26,000. Phillip James Consulting Co. bought a new position in Wells Fargo & Company in the first quarter valued at about $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in Wells Fargo & Company in the fourth quarter worth about $29,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on WFC. Bank of America lifted their target price on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Robert W. Baird raised their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Raymond James Financial reaffirmed a "market perform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. JPMorgan Chase & Co. upped their price objective on Wells Fargo & Company from $93.50 to $95.50 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Finally, UBS Group cut their target price on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company has an average rating of "Moderate Buy" and a consensus price target of $98.61.

Wells Fargo & Company Trading Up 0.8%

Shares of NYSE:WFC opened at $89.90 on Friday. The company's 50-day moving average price is $86.69 and its two-hundred day moving average price is $82.66. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The stock has a market capitalization of $271.86 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 0.97 and a beta of 0.92.

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, beating 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 during the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter last year, the company 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 forecast that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were given a dividend of $0.50 per share. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company's payout ratio is presently 29.07%.

Wells Fargo & Company Profile

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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