Shayne & Jacobs LLC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Shayne & Jacobs LLC increased its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 17.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 48,177 shares of the financial services provider's stock after buying an additional 7,200 shares during the quarter. Wells Fargo & Company accounts for approximately 0.9% of Shayne & Jacobs LLC's portfolio, making the stock its 14th largest holding. Shayne & Jacobs LLC's holdings in Wells Fargo & Company were worth $3,459,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WFC. Norges Bank bought a new position in shares of Wells Fargo & Company in the fourth quarter worth $3,365,658,000. Capital Research Global Investors raised its stake in shares of Wells Fargo & Company by 932.0% during the 4th quarter. Capital Research Global Investors now owns 15,734,874 shares of the financial services provider's stock valued at $1,105,218,000 after purchasing an additional 14,210,193 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Wells Fargo & Company by 277.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock worth $771,092,000 after purchasing an additional 7,894,919 shares in the last quarter. GAMMA Investing LLC boosted its stake in Wells Fargo & Company by 7,887.9% in the 1st quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock worth $243,589,000 after purchasing an additional 3,350,605 shares during the period. Finally, Northern Trust Corp boosted its stake in Wells Fargo & Company by 10.7% in the 4th quarter. Northern Trust Corp now owns 34,339,295 shares of the financial services provider's stock worth $2,411,992,000 after purchasing an additional 3,307,855 shares during the period. Hedge funds and other institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Trading Up 1.3%

Shares of WFC stock traded up $1.04 on Wednesday, hitting $79.90. 30,557,486 shares of the company's stock traded hands, compared to its average volume of 17,406,552. The stock has a market capitalization of $260.00 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.33 and a beta of 1.16. The company's fifty day simple moving average is $76.72 and its 200 day simple moving average is $74.01. Wells Fargo & Company has a one year low of $50.15 and a one year high of $83.95. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.33% and a net margin of 16.82%. The firm had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. During the same period last year, the firm earned $1.33 earnings per share. The company's revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company announced that its board has authorized a share repurchase plan on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Friday, May 9th were given a dividend of $0.40 per share. The ex-dividend date was Friday, May 9th. This represents a $1.60 annualized dividend and a yield of 2.00%. Wells Fargo & Company's payout ratio is 28.73%.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of analyst reports. Phillip Securities upgraded shares of Wells Fargo & Company from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, April 14th. Citigroup reiterated a "neutral" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. TD Cowen started coverage on shares of Wells Fargo & Company in a research report on Thursday, May 15th. They set a "hold" rating and a $83.00 price target for the company. Bank of America upped their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. dropped their price objective on Wells Fargo & Company from $82.00 to $73.50 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.39.

Wells Fargo & Company Profile

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.