Fort Sheridan Advisors LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 101.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,785 shares of the financial services provider's stock after purchasing an additional 15,000 shares during the quarter. Fort Sheridan Advisors LLC's holdings in Wells Fargo & Company were worth $1,217,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in WFC. Carson Advisory Inc. raised its stake in Wells Fargo & Company by 1.6% during the second quarter. Carson Advisory Inc. now owns 13,371 shares of the financial services provider's stock valued at $571,000 after buying an additional 217 shares during the last quarter. Main Street Research LLC raised its stake in Wells Fargo & Company by 1.2% during the second quarter. Main Street Research LLC now owns 19,615 shares of the financial services provider's stock valued at $837,000 after buying an additional 226 shares during the last quarter. Founders Financial Securities LLC raised its stake in Wells Fargo & Company by 0.8% during the second quarter. Founders Financial Securities LLC now owns 31,571 shares of the financial services provider's stock valued at $1,347,000 after buying an additional 240 shares during the last quarter. Cape Cod Five Cents Savings Bank raised its stake in Wells Fargo & Company by 4.6% during the fourth quarter. Cape Cod Five Cents Savings Bank now owns 5,625 shares of the financial services provider's stock valued at $232,000 after buying an additional 245 shares during the last quarter. Finally, Zullo Investment Group Inc. raised its stake in Wells Fargo & Company by 3.7% during the third quarter. Zullo Investment Group Inc. now owns 7,064 shares of the financial services provider's stock valued at $289,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company's stock.
Wells Fargo & Company Price Performance
Shares of Wells Fargo & Company stock traded up $0.43 during trading hours on Friday, hitting $49.16. The company's stock had a trading volume of 19,329,199 shares, compared to its average volume of 18,176,004. The business has a 50 day moving average price of $48.09 and a two-hundred day moving average price of $44.18. Wells Fargo & Company has a 12-month low of $35.25 and a 12-month high of $51.44. The company has a market cap of $178.53 billion, a PE ratio of 10.20, a PEG ratio of 1.02 and a beta of 1.18. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.88 and a current ratio of 0.88.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.30). Wells Fargo & Company had a net margin of 16.60% and a return on equity of 12.40%. The business had revenue of $20.48 billion during the quarter, compared to analysts' expectations of $20.30 billion. During the same quarter in the previous year, the firm earned $0.67 earnings per share. Wells Fargo & Company's revenue was up 2.2% on a year-over-year basis. Analysts expect that Wells Fargo & Company will post 4.72 earnings per share for the current fiscal year.
Wells Fargo & Company Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 2nd will be given a $0.35 dividend. The ex-dividend date is Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.85%. Wells Fargo & Company's dividend payout ratio is currently 29.05%.
Wall Street Analyst Weigh In
A number of research firms have commented on WFC. Morgan Stanley lifted their target price on Wells Fargo & Company from $54.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday, January 30th. Barclays lifted their target price on Wells Fargo & Company from $54.00 to $66.00 and gave the stock an "overweight" rating in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $51.00 target price on shares of Wells Fargo & Company in a report on Tuesday, January 9th. UBS Group lifted their target price on Wells Fargo & Company from $51.00 to $53.00 in a report on Thursday, October 12th. Finally, BMO Capital Markets lifted their target price on Wells Fargo & Company from $52.00 to $54.00 and gave the stock a "market perform" rating in a report on Monday, October 16th. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $51.43.
Check Out Our Latest Analysis on WFC
Insider Buying and Selling
In other news, Director Richard K. Davis bought 3,500 shares of the firm's stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average cost of $41.22 per share, for a total transaction of $144,270.00. Following the completion of the transaction, the director now owns 4,244 shares of the company's stock, valued at $174,937.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is owned by company insiders.
Wells Fargo & Company Profile
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Free Report)
Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
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