Teewinot Capital Advisers L.L.C. Purchases 74,445 Shares of Wells Fargo & Company $WFC

Key Points

• Teewinot Capital Advisers L.L.C. increased its stake in Wells Fargo by 13.4% in Q1, owning 628,205 shares valued at approximately $45 million.
• Wells Fargo reported quarterly earnings of $1.54 EPS, exceeding estimates, with a net margin of 16.82% and revenue of approximately $20.82 billion.
• The company has increased its quarterly dividend from $0.40 to $0.45 per share, resulting in an annualized dividend of $1.80 and a yield of 2.3%.

Teewinot Capital Advisers L.L.C. boosted its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 13.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,205 shares of the financial services provider's stock after purchasing an additional 74,445 shares during the quarter. Wells Fargo & Company comprises approximately 4.6% of Teewinot Capital Advisers L.L.C.'s portfolio, making the stock its 11th biggest holding. Teewinot Capital Advisers L.L.C.'s holdings in Wells Fargo & Company were worth $45,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WFC. Massachusetts Financial Services Co. MA raised its stake in Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider's stock valued at $771,092,000 after purchasing an additional 7,894,919 shares in the last quarter. GAMMA Investing LLC raised its stake in Wells Fargo & Company by 7,887.9% in the first quarter. GAMMA Investing LLC now owns 3,393,083 shares of the financial services provider's stock valued at $243,589,000 after purchasing an additional 3,350,605 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $198,801,000. Theleme Partners LLP purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $187,049,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Wells Fargo & Company in the fourth quarter valued at approximately $117,280,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 0.3%

Shares of Wells Fargo & Company stock traded up $0.25 on Monday, hitting $79.21. The stock had a trading volume of 17,105,057 shares, compared to its average volume of 12,669,898. 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 has a one year low of $50.22 and a one year high of $84.83. The stock has a market cap of $253.73 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.23 and a beta of 1.25. The stock's 50-day simple moving average is $80.52 and its two-hundred day simple moving average is $75.01.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm had revenue of $20.82 billion for the quarter, compared to analysts' expectations of $20.83 billion. During the same quarter last 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, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's dividend payout ratio (DPR) is 30.82%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on WFC. Phillip Securities downgraded shares of Wells Fargo & Company from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Bank of America lifted their price target on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Cowen reissued a "hold" rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Finally, Evercore ISI reissued an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Ten equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $82.56.

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.