Edmond DE Rothschild Holding S.A. purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 761,010 shares of the financial services provider's stock, valued at approximately $62,890,000. Wells Fargo & Company comprises approximately 0.8% of Edmond DE Rothschild Holding S.A.'s portfolio, making the stock its 29th largest holding.
A number of other large investors also recently bought and sold shares of the business. Nixon Peabody Trust Co. grew its position in Wells Fargo & Company by 3.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider's stock valued at $312,000 after acquiring an additional 115 shares during the last quarter. MFA Wealth Services lifted its position in shares of Wells Fargo & Company by 0.7% during the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider's stock worth $1,381,000 after purchasing an additional 115 shares during the last quarter. Simmons Bank lifted its position in shares of Wells Fargo & Company by 1.9% during the fourth quarter. Simmons Bank now owns 6,359 shares of the financial services provider's stock worth $593,000 after purchasing an additional 116 shares during the last quarter. Wood Tarver Financial Group LLC boosted its stake in shares of Wells Fargo & Company by 1.6% during the fourth quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider's stock valued at $722,000 after purchasing an additional 120 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its stake in shares of Wells Fargo & Company by 1.8% during the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider's stock valued at $566,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on WFC shares. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, May 7th. Bank of America lifted their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an "equal weight" rating in a research report on Monday, June 29th. Wall Street Zen upgraded shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. Finally, UBS Group reduced their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $98.61.
View Our Latest Stock Analysis on WFC
Wells Fargo & Company Price Performance
Shares of WFC stock opened at $83.83 on Monday. Wells Fargo & Company has a twelve month low of $72.78 and a twelve month high of $97.76. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The stock has a fifty day simple moving average of $86.08 and a two-hundred day simple moving average of $82.91. The stock has a market capitalization of $253.50 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 0.91 and a beta of 0.92.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.73 by $0.23. The firm had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 earnings per share. On average, analysts predict that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.
Wells Fargo & Company Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 7th. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio is currently 29.07%.
About Wells Fargo & Company
(
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.
Further Reading
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