iSAM Funds UK Ltd Invests $1.58 Million in Wells Fargo & Company $WFC

Key Points

• iSAM Funds UK Ltd acquired 19,100 Wells Fargo shares worth approximately $1.58 million in the second quarter, making WFC its 15th-largest holding and about 1.1% of its portfolio. Institutional investors collectively own 75.9% of the company.
• Wells Fargo reported quarterly earnings of $1.96 per share, exceeding the $1.73 analyst estimate, while revenue rose 8.6% year over year to $22.62 billion. The bank also increased its quarterly dividend from $0.45 to $0.50 per share, producing a 2.2% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $98.61, compared with shares trading at $89.28. Recent targets range from $94 to $104.

iSAM Funds UK Ltd acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,100 shares of the financial services provider's stock, valued at approximately $1,578,000. Wells Fargo & Company makes up approximately 1.1% of iSAM Funds UK Ltd's portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. Beacon Capital Management LLC purchased a new position in shares of Wells Fargo & Company during the 2nd quarter valued at $331,000. Aletheian Wealth Advisors LLC raised its position in shares of Wells Fargo & Company by 13.3% in the second quarter. Aletheian Wealth Advisors LLC now owns 3,184 shares of the financial services provider's stock worth $263,000 after buying an additional 374 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Wells Fargo & Company by 24.0% in the second quarter. Continuum Advisory LLC now owns 18,140 shares of the financial services provider's stock worth $1,499,000 after buying an additional 3,511 shares in the last quarter. Safeguard Investment Advisory Group LLC boosted its stake in Wells Fargo & Company by 18.2% during the second quarter. Safeguard Investment Advisory Group LLC now owns 5,699 shares of the financial services provider's stock valued at $471,000 after buying an additional 876 shares during the period. Finally, Nykredit A S bought a new stake in Wells Fargo & Company during the second quarter valued at $244,017,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Stock Up 2.6%

Shares of NYSE WFC opened at $89.28 on Thursday. The stock has a market capitalization of $269.98 billion, a P/E ratio of 12.98, a PEG ratio of 0.95 and a beta of 0.92. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The firm's 50 day simple moving average is $86.48 and its two-hundred day simple moving average is $82.59. 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 (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 analysts' consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the previous year, the business posted $1.60 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. As a group, analysts expect 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 was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were paid a $0.50 dividend. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Friday, August 7th. Wells Fargo & Company's payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WFC shares. UBS Group decreased 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. Bank of America lifted their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods cut their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating for the company in a report on Wednesday, July 15th. Raymond James Financial restated a "market perform" rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.61.

Wells Fargo & Company 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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