Wells Fargo & Company $WFC Shares Bought by Pzena Investment Management LLC

Pzena Investment Management LLC grew its holdings in Wells Fargo & Company (NYSE:WFC) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,853,784 shares of the financial services provider’s stock after purchasing an additional 26,316 shares during the quarter. Wells Fargo & Company makes up 2.1% of Pzena Investment Management LLC’s portfolio, making the stock its 20th biggest position. Pzena Investment Management LLC owned 0.29% of Wells Fargo & Company worth $708,745,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capstone Financial Advisors Inc. lifted its stake in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 3,354 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 113 shares during the last quarter. MFA Wealth Services raised its holdings in Wells Fargo & Company by 0.7% in the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 115 shares in the last quarter. Hidden Cove Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 1.8% during the second quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock valued at $566,000 after buying an additional 124 shares during the last quarter. Five Oceans Advisors boosted its holdings in shares of Wells Fargo & Company by 3.6% in the 2nd quarter. Five Oceans Advisors now owns 3,625 shares of the financial services provider’s stock valued at $300,000 after buying an additional 125 shares in the last quarter. Finally, Pines Wealth Management LLC grew its position in shares of Wells Fargo & Company by 1.5% in the 2nd quarter. Pines Wealth Management LLC now owns 8,650 shares of the financial services provider’s stock worth $715,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 2.2%

Shares of Wells Fargo & Company stock opened at $87.45 on Thursday. The stock has a market cap of $262.51 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.92 and a beta of 0.93. The firm has a fifty day moving average price of $84.43 and a 200 day moving average price of $83.63. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.89 and a quick ratio of 0.89. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76.

Wells Fargo & Company (NYSE:WFC) 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. Wells Fargo & Company had a return on equity of 14.05% and a net margin of 17.64%. The firm had revenue of $21.87 billion for the quarter, compared to analyst estimates of $22.30 billion. During the same period last year, the company earned $1.66 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts predict that Wells Fargo & Company will post 7.27 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, November 6th. This represents a $2.00 dividend on an annualized basis and a yield of 2.3%. Wells Fargo & Company’s dividend payout ratio is currently 28.21%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Morgan Stanley lowered their price objective on Wells Fargo & Company from $102.00 to $101.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. TD Cowen started coverage on Wells Fargo & Company in a research note on Thursday, October 8th. They set a “buy” rating and a $95.00 target price on the stock. Royal Bank Of Canada decreased their price target on Wells Fargo & Company from $100.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, October 14th. Finally, JPMorgan Chase & Co. increased their price target on Wells Fargo & Company from $91.50 to $92.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.11.

Wells Fargo & Company 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.