Lombard Odier Asset Management Switzerland SA Raises Stock Position in Wells Fargo & Company $WFC

Key Points

• Lombard Odier Asset Management Switzerland SA increased its Wells Fargo stake by 17.4% in the first quarter, buying 22,200 additional shares to bring its total to 150,014 shares valued at about $11.94 million.
• Institutional ownership of Wells Fargo & Company remains high, with the article noting that 75.90% of the stock is held by institutions and citing several other funds that recently added to positions.
• Wells Fargo shares were trading slightly higher at $86.39, while analysts currently hold a Moderate Buy consensus rating with an average price target of $98.50; the bank also recently paid a quarterly dividend of $0.45 per share.

Lombard Odier Asset Management Switzerland SA raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 17.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 150,014 shares of the financial services provider's stock after buying an additional 22,200 shares during the period. Lombard Odier Asset Management Switzerland SA's holdings in Wells Fargo & Company were worth $11,943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Wells Fargo & Company by 19.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider's stock worth $49,610,000 after buying an additional 84,902 shares during the period. Swiss Life Asset Management Ltd raised its stake in Wells Fargo & Company by 4.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider's stock worth $32,673,000 after acquiring an additional 14,168 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in Wells Fargo & Company by 4.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider's stock worth $38,446,000 after acquiring an additional 17,302 shares during the period. Norges Bank purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $4,512,563,000. Finally, Winning Points Advisors LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at approximately $3,384,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 0.2%

WFC stock opened at $86.39 on Friday. 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 1-year low of $72.78 and a 1-year high of $97.76. The business has a 50 day simple moving average of $82.72 and a two-hundred day simple moving average of $83.51. The company has a market capitalization of $264.37 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.94 and a beta of 0.92.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were given a dividend of $0.45 per share. The ex-dividend date was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company's dividend payout ratio is currently 26.16%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WFC. Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. Raymond James Financial restated a "market perform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. UBS Group dropped their target price on shares of Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. KGI Securities lowered Wells Fargo & Company to a "hold" rating in a research note on Thursday, April 16th. Finally, Bank of America raised their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Two research 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 company. According to MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.50.

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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