R Squared Ltd Invests $395,000 in Wells Fargo & Company $WFC

Key Points

• R Squared Ltd invested approximately $395,000 in Wells Fargo & Company, purchasing 4,927 shares in the 2nd quarter.
• Wells Fargo recently increased its quarterly dividend from $0.40 to $0.45, representing a 2.1% yield.
• Citi and TD Cowen have recently raised their price targets for Wells Fargo, with a consensus rating of "Moderate Buy" and an average target price of $89.57.

R Squared Ltd purchased a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 4,927 shares of the financial services provider's stock, valued at approximately $395,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Management Partners LLC raised its holdings in Wells Fargo & Company by 3.5% in the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider's stock valued at $313,000 after acquiring an additional 128 shares in the last quarter. Verum Partners LLC raised its holdings in Wells Fargo & Company by 1.8% in the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider's stock valued at $582,000 after acquiring an additional 128 shares in the last quarter. Motive Wealth Advisors raised its holdings in Wells Fargo & Company by 3.7% in the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider's stock valued at $293,000 after acquiring an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC raised its holdings in Wells Fargo & Company by 0.7% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider's stock valued at $1,443,000 after acquiring an additional 131 shares in the last quarter. Finally, Vivid Wealth Management LLC raised its holdings in Wells Fargo & Company by 0.8% in the 2nd quarter. Vivid Wealth Management LLC now owns 17,243 shares of the financial services provider's stock valued at $1,381,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on WFC shares. Citigroup upped their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Tuesday, September 23rd. TD Cowen upped their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the company a "hold" rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods increased their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "market perform" rating in a report on Wednesday, October 15th. The Goldman Sachs Group dropped their target price 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. Finally, Raymond James Financial cut Wells Fargo & Company from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 7th. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of "Moderate Buy" and an average target price of $89.57.

Wells Fargo & Company Stock Up 2.2%

NYSE WFC opened at $86.35 on Friday. The firm has a market cap of $276.61 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.16 and a beta of 1.25. Wells Fargo & Company has a one year low of $58.42 and a one year high of $87.47. The stock's 50 day simple moving average is $81.89 and its 200 day simple moving average is $77.61. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.55 by $0.11. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.42 EPS. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date 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 is 29.61%.

About Wells Fargo & Company

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.

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