Nilsine Partners LLC Acquires 19,295 Shares of Wells Fargo & Company $WFC

Key Points

• Nilsine Partners increased its Wells Fargo stake by 175% in the second quarter, acquiring 19,295 additional shares for a total position worth approximately $2.51 million. Institutional investors own 75.9% of the company.
• Analysts maintain a generally positive view, with Wells Fargo holding a consensus “Moderate Buy” rating and an average price target of $98.61.
• Wells Fargo beat quarterly earnings and revenue estimates, reporting $1.96 in EPS on $22.62 billion in revenue, while raising its quarterly dividend from $0.45 to $0.50 per share.

Nilsine Partners LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC - Free Report) by 175.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,323 shares of the financial services provider's stock after purchasing an additional 19,295 shares during the quarter. Nilsine Partners LLC's holdings in Wells Fargo & Company were worth $2,506,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Wells Fargo & Company during the fourth quarter worth $4,512,563,000. Legal & General Group Plc bought a new stake in Wells Fargo & Company in the 2nd quarter valued at $1,635,881,000. Bank of New York Mellon Corp acquired a new position in Wells Fargo & Company in the 2nd quarter worth $1,364,923,000. Deutsche Bank AG bought a new position in Wells Fargo & Company during the 2nd quarter worth about $859,431,000. Finally, Pzena Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $729,502,000. 75.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. UBS Group reduced their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Sunday, June 14th. JPMorgan Chase & Co. raised their price target on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. Robert W. Baird lifted their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, Bank of America boosted their price objective on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.61.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $89.90 on Monday. The stock has a 50 day moving average price of $86.69 and a 200 day moving average price of $82.63. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $271.86 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates 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 firm had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period last year, the company earned $1.60 earnings per share. The business's revenue was up 8.6% compared to the same quarter last year. Analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 7th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, August 7th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company's dividend 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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