Stoneridge Investment Partners LLC Purchases 14,308 Shares of Wells Fargo & Company $WFC

Stoneridge Investment Partners LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 43.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,030 shares of the financial services provider’s stock after buying an additional 14,308 shares during the quarter. Wells Fargo & Company comprises approximately 2.7% of Stoneridge Investment Partners LLC’s holdings, making the stock its 8th largest position. Stoneridge Investment Partners LLC’s holdings in Wells Fargo & Company were worth $3,942,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Wells Fargo & Company by 0.4% during the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after acquiring an additional 1,341,222 shares during the period. Norges Bank bought a new position in shares of Wells Fargo & Company during the 2nd quarter valued at about $3,990,551,000. Massachusetts Financial Services Co. MA boosted its position in shares of Wells Fargo & Company by 7.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock valued at $1,496,998,000 after purchasing an additional 1,223,999 shares in the last quarter. Amundi grew its stake in shares of Wells Fargo & Company by 18.2% in the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after purchasing an additional 2,180,693 shares during the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of Wells Fargo & Company by 5.5% in the 2nd quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock worth $830,990,000 after purchasing an additional 542,493 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.2%

Wells Fargo & Company stock opened at $87.00 on Friday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $97.76. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The firm has a market capitalization of $273.11 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 0.94 and a beta of 1.09. The company has a 50 day moving average price of $90.33 and a 200 day moving average price of $85.00.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. The company had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS. Research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is currently 28.71%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WFC. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Evercore ISI cut their price objective on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, January 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Wednesday. Finally, Argus lifted their target price on Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, January 15th. Thirteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $94.87.

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.