Quantbot Technologies LP bought a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 210,904 shares of the financial services provider's stock, valued at approximately $17,429,000. Wells Fargo & Company comprises about 0.7% of Quantbot Technologies LP's holdings, making the stock its 3rd biggest holding.
Several other institutional investors have also recently bought and sold shares of WFC. Nixon Peabody Trust Co. boosted its position in Wells Fargo & Company by 3.6% during the 4th quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider's stock worth $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% in 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 in the last quarter. Simmons Bank lifted its position in shares of Wells Fargo & Company by 1.9% in 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 in the last quarter. Wood Tarver Financial Group LLC boosted its holdings in 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 worth $722,000 after purchasing an additional 120 shares during the last quarter. Finally, Hidden Cove Wealth Management LLC boosted its holdings in 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 worth $566,000 after purchasing an additional 124 shares during the last quarter. Institutional investors own 75.90% of the company's stock.
Wall Street Analysts Forecast Growth
WFC has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $98.00 to $94.00 and set a "market perform" rating on the stock in a report on Wednesday, July 15th. Bank of America increased their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, Robert W. Baird lifted their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $98.61.
Check Out Our Latest Analysis on WFC
Wells Fargo & Company Price Performance
Shares of WFC opened at $84.82 on Wednesday. The company's 50-day moving average is $86.11 and its 200-day moving average is $82.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $256.51 billion, a PE ratio of 12.33, a PEG ratio of 0.92 and a beta of 0.92. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping the consensus estimate 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 business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. Wells Fargo & Company's revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 7.26 EPS for the current year.
Wells Fargo & Company Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.50 per share. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company's dividend payout ratio is presently 29.07%.
Wells Fargo & Company Profile
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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.
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