Vise Technologies Inc. Acquires 17,504 Shares of Wells Fargo & Company $WFC

Key Points

• Vise Technologies increased its Wells Fargo position by 9.1% in the third quarter, buying 17,504 shares to hold 209,705 shares valued at approximately $16.8 million. Institutional investors collectively own 75.9% of WFC.
• Wells Fargo reported quarterly EPS of $1.87, slightly above the $1.85 consensus estimate, while revenue reached $21.87 billion, up 2% year over year but below expectations.
• The bank declared a quarterly dividend of $0.50 per share, equivalent to a 2.4% annual yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $98.11, versus a recent share price of $83.39.

Vise Technologies Inc. raised its position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 9.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,705 shares of the financial services provider's stock after purchasing an additional 17,504 shares during the period. Vise Technologies Inc.'s holdings in Wells Fargo & Company were worth $16,787,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in shares of Wells Fargo & Company in the second quarter worth about $1,635,881,000. Bank of New York Mellon Corp acquired a new position in Wells Fargo & Company during the second quarter worth about $1,364,923,000. Amundi boosted its stake in shares of Wells Fargo & Company by 73.0% during the first quarter. Amundi now owns 16,463,550 shares of the financial services provider's stock valued at $1,310,663,000 after purchasing an additional 6,944,316 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Wells Fargo & Company during the second quarter worth $859,431,000. Finally, Pzena Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $729,502,000. Institutional investors own 75.90% of the company's stock.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC opened at $83.39 on Friday. The company has a market cap of $250.32 billion, a PE ratio of 11.76, a P/E/G ratio of 0.89 and a beta of 0.96. The firm has a 50-day simple moving average of $84.33 and a 200 day simple moving average of $83.70. The company has a quick ratio of 0.90, a current ratio of 0.89 and a debt-to-equity ratio of 1.14. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, October 13th. The financial services provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.85 by $0.02. The firm had revenue of $21.87 billion during the quarter, compared to analysts' expectations of $22.30 billion. Wells Fargo & Company had a net margin of 17.64% and a return on equity of 14.05%. Wells Fargo & Company's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 EPS. On average, sell-side analysts anticipate that Wells Fargo & Company will post 7.27 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, November 6th. Wells Fargo & Company's dividend payout ratio (DPR) is currently 28.21%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WFC shares. Raymond James Financial reiterated a "market perform" rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Royal Bank Of Canada reduced their price target on Wells Fargo & Company from $100.00 to $92.00 and set an "outperform" rating on the stock in a report on Wednesday, October 14th. Citigroup dropped their target price on Wells Fargo & Company from $90.00 to $88.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 14th. Morgan Stanley decreased their price target on Wells Fargo & Company from $102.00 to $101.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 14th. Finally, HSBC began coverage on shares of Wells Fargo & Company in a research note on Monday, September 28th. They set a "buy" rating and a $108.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $98.11.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified financial services company that provides banking, lending, investment, and financial management services to individuals, businesses, and institutions. Its offerings include deposit accounts, residential and commercial lending, credit cards, payments, treasury management, and other banking products.

The company also provides wealth and investment management services, including financial planning, brokerage, advisory, and private banking solutions.

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