Two Sigma Securities LLC Has $2.65 Million Stock Position in Wells Fargo & Company $WFC

Key Points

• Two Sigma Securities increased its Wells Fargo stake by 969.4% in the second quarter, owning 32,050 shares worth approximately $2.65 million. Institutional investors collectively hold 75.9% of WFC’s outstanding stock.
• Wells Fargo reported quarterly EPS of $1.96, beating estimates of $1.73, while revenue rose 8.6% year over year to $22.62 billion. The company also raised its quarterly dividend to $0.50 per share, equivalent to a 2.3% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $98.61, compared with the stock’s recent price of $86.62.

Two Sigma Securities LLC boosted its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 969.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,050 shares of the financial services provider's stock after acquiring an additional 29,053 shares during the period. Two Sigma Securities LLC's holdings in Wells Fargo & Company were worth $2,649,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WFC. Norges Bank bought a new position in Wells Fargo & Company during the 4th quarter valued at $4,512,563,000. Capital Research Global Investors boosted its stake in Wells Fargo & Company by 4.9% in the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider's stock valued at $3,487,687,000 after acquiring an additional 1,760,484 shares during the last quarter. Legal & General Group Plc lifted its stake in Wells Fargo & Company by 0.9% in the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider's stock valued at $1,975,600,000 after purchasing an additional 188,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Wells Fargo & Company by 13.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider's stock worth $1,922,257,000 after acquiring an additional 2,369,260 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Wells Fargo & Company during the second quarter worth about $1,364,923,000. Institutional investors and hedge funds own 75.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen upgraded Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Sunday, June 14th. JPMorgan Chase & Co. lifted their price target on Wells Fargo & Company from $93.50 to $95.50 and gave the company a "neutral" rating in a research report on Wednesday, July 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Bank of America increased their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Finally, Robert W. Baird raised their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Wells Fargo & Company has a consensus rating of "Moderate Buy" and a consensus target price of $98.61.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $86.62 on Monday. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. 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 stock has a market capitalization of $261.94 billion, a PE ratio of 12.59, a P/E/G ratio of 0.94 and a beta of 0.92. The company's 50 day simple moving average is $86.27 and its two-hundred day simple moving average is $82.63.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the previous year, the business earned $1.60 EPS. The business's revenue for the quarter was up 8.6% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.45. Wells Fargo & Company's dividend payout ratio is currently 29.07%.

Key Wells Fargo & Company News

Here are the key news stories impacting Wells Fargo & Company this week:

• Positive Sentiment: Wells Fargo is reportedly seeking to recruit hundreds of independent financial advisers, expanding its Wealth & Investment Management division and targeting affluent and high-net-worth clients. The initiative builds on a multiyear overhaul and could support fee-based revenue, asset growth and deeper customer relationships. WFC Broadens Wealth Focus: Can Its Multi-Year Revamp Drive Growth?
• Positive Sentiment: The wealth-management push follows an approximately $1.5 billion revamp and emphasizes independent advisers who can use Wells Fargo’s platform and infrastructure. Successful hiring and retention could improve the division’s long-term growth prospects, although benefits will take time to materialize. Wells Fargo Steps Up Wealth Hiring After $1.5 Billion Revamp
• Neutral Sentiment: Analysts collectively maintain a “Moderate Buy” recommendation for Wells Fargo. The rating indicates generally constructive sentiment, but it does not represent a new earnings forecast or a clearly identifiable catalyst. Wells Fargo Given Average Recommendation of Moderate Buy by Analysts
• Neutral Sentiment: A market-focused report noted that WFC advanced even as the broader market declined, suggesting relative investor support. The article did not identify a major new earnings announcement, guidance change or regulatory development behind the move. Wells Fargo Gains As Market Dips: What You Should Know

Wells Fargo & Company Profile

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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