100,097 Shares in Wells Fargo & Company $WFC Acquired by FJ Capital Management LLC

Key Points

• FJ Capital Management LLC has acquired a new stake in Wells Fargo & Company, purchasing 100,097 shares valued at approximately $7.2 million.
• Wells Fargo recently increased its quarterly dividend from $0.40 to $0.45 per share, representing a current annualized yield of 2.2%.
• Analysts have varied views on Wells Fargo, with Goldman Sachs lowering its price target from $92 to $91, while Morgan Stanley raised its target from $77 to $87.

FJ Capital Management LLC bought a new stake in Wells Fargo & Company (NYSE:WFC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,097 shares of the financial services provider's stock, valued at approximately $7,186,000.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas bought a new position in Wells Fargo & Company in the fourth quarter worth $28,000. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the 1st quarter worth approximately $29,000. Motco raised its stake in Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 326 shares during the period. Stone House Investment Management LLC acquired a new position in Wells Fargo & Company in the 1st quarter valued at $34,000. Finally, Dunhill Financial LLC grew its holdings in shares of Wells Fargo & Company by 63.7% during the 4th quarter. Dunhill Financial LLC now owns 496 shares of the financial services provider's stock worth $35,000 after purchasing an additional 193 shares in the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of analyst reports. Cowen restated a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. TD Cowen started coverage on Wells Fargo & Company in a research report on Thursday, May 15th. They issued a "hold" rating and a $83.00 price target for the company. The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Phillip Securities lowered Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Finally, Citigroup reiterated a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $82.56.

Wells Fargo & Company Price Performance

Shares of WFC traded down $1.28 during mid-day trading on Wednesday, hitting $80.51. 11,173,017 shares of the company were exchanged, compared to its average volume of 12,728,267. The stock has a market cap of $257.89 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 1.28 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. Wells Fargo & Company has a 1-year low of $50.22 and a 1-year high of $84.83. The company has a 50 day moving average of $80.51 and a 200-day moving average of $75.06.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analysts' expectations of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 EPS. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's dividend payout ratio (DPR) is 30.82%.

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.