Wells Fargo & Company (NYSE:WFC) Shares Acquired by Xponance Inc.

Xponance Inc. lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 29.1% during the second quarter, Holdings Channel reports. The fund owned 228,519 shares of the financial services provider’s stock after purchasing an additional 51,546 shares during the quarter. Xponance Inc.’s holdings in Wells Fargo & Company were worth $10,350,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $304,000. Regentatlantic Capital LLC boosted its position in Wells Fargo & Company by 53.0% during the 2nd quarter. Regentatlantic Capital LLC now owns 90,001 shares of the financial services provider’s stock valued at $4,076,000 after purchasing an additional 31,181 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Wells Fargo & Company by 216.8% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 671,427 shares of the financial services provider’s stock valued at $30,409,000 after purchasing an additional 459,483 shares during the period. Bridgefront Capital LLC acquired a new position in Wells Fargo & Company during the 2nd quarter valued at approximately $953,000. Finally, Eqis Capital Management Inc. boosted its position in Wells Fargo & Company by 0.8% during the 2nd quarter. Eqis Capital Management Inc. now owns 68,469 shares of the financial services provider’s stock worth $3,101,000 after acquiring an additional 525 shares during the period. 70.82% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on WFC shares. Barclays boosted their price objective on Wells Fargo & Company from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 15th. Royal Bank of Canada upped their price target on Wells Fargo & Company from $40.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 7th. TheStreet lowered Wells Fargo & Company from a “b” rating to a “c+” rating in a research report on Friday, July 30th. Bank of America raised Wells Fargo & Company from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Friday, June 4th. Finally, Keefe, Bruyette & Woods started coverage on Wells Fargo & Company in a research note on Wednesday, July 7th. They issued an “outperform” rating and a $57.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $47.52.

Shares of WFC opened at $47.92 on Friday. Wells Fargo & Company has a 1 year low of $20.76 and a 1 year high of $51.41. The company has a current ratio of 0.83, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a 50 day simple moving average of $46.68 and a 200-day simple moving average of $44.66. The stock has a market cap of $196.78 billion, a PE ratio of 13.73, a PEG ratio of 0.99 and a beta of 1.36.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Tuesday, July 13th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.40. The business had revenue of $20.27 billion during the quarter, compared to analysts’ expectations of $17.69 billion. Wells Fargo & Company had a return on equity of 9.85% and a net margin of 19.79%. Wells Fargo & Company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.66) EPS. On average, sell-side analysts forecast that Wells Fargo & Company will post 4.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 6th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, August 5th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.10. This represents a $0.80 dividend on an annualized basis and a yield of 1.67%. Wells Fargo & Company’s dividend payout ratio is 145.45%.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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