Sutton Place Investors LLC Makes New $256,000 Investment in Wells Fargo & Company $WFC

Key Points

• Sutton Place Investors LLC has made a new investment in Wells Fargo & Company, purchasing 3,201 shares valued at approximately $256,000 in the second quarter.
• Wells Fargo recently increased its quarterly dividend from $0.40 to $0.45, representing a 2.2% yield on an annualized basis.
• Analysts have given Wells Fargo a consensus rating of "Moderate Buy" with an average target price of $83.74, with recent ratings adjustments reflecting a mix of holds and buys.

Sutton Place Investors LLC bought a new position in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,201 shares of the financial services provider's stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds have also modified their holdings of WFC. CBIZ Investment Advisory Services LLC grew its holdings in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock worth $27,000 after acquiring an additional 322 shares during the period. Motco grew its holdings in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider's stock worth $29,000 after acquiring an additional 326 shares during the period. Accent Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the first quarter worth $29,000. 1248 Management LLC bought a new stake in shares of Wells Fargo & Company in the first quarter worth $31,000. Finally, Stone House Investment Management LLC bought a new stake in shares of Wells Fargo & Company in the first quarter worth $34,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $80.63 on Friday. The stock's 50-day simple moving average is $80.77 and its 200-day simple moving average is $76.31. Wells Fargo & Company has a 52 week low of $55.98 and a 52 week high of $86.65. The company has a market capitalization of $258.28 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.24 and a beta of 1.25. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06.

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 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The business had revenue of $20.82 billion for the quarter, compared to the consensus estimate of $20.83 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The business's revenue was up .6% on a year-over-year basis. As a group, analysts expect 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 announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were given a $0.45 dividend. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio (DPR) is presently 30.82%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Cowen reaffirmed a "hold" rating on shares of Wells Fargo & Company in a report on Wednesday, July 16th. Wall Street Zen raised Wells Fargo & Company from a "sell" rating to a "hold" rating in a report on Saturday. Phillip Securities lowered Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Citigroup lifted their price objective on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, September 23rd. Finally, Evercore ISI lifted their target price on Wells Fargo & Company from $94.00 to $98.00 and gave the company an "outperform" rating in a research report on Tuesday. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and an average target price of $83.74.

Wells Fargo & Company 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.

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