Fox Run Management L.L.C. raised its position in Wells Fargo & Company (NYSE:WFC) by 127.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,800 shares of the financial services provider’s stock after acquiring an additional 11,100 shares during the quarter. Wells Fargo & makes up approximately 0.4% of Fox Run Management L.L.C.’s portfolio, making the stock its 26th biggest position. Fox Run Management L.L.C.’s holdings in Wells Fargo & were worth $1,097,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alexandria Capital LLC grew its position in Wells Fargo & by 0.3% in the 1st quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 6 shares in the last quarter. Brick & Kyle Associates grew its position in Wells Fargo & by 9.5% in the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 162 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in Wells Fargo & in the 1st quarter valued at about $124,000. Winch Advisory Services LLC grew its position in Wells Fargo & by 0.7% in the 1st quarter. Winch Advisory Services LLC now owns 2,756 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 18 shares in the last quarter. Finally, Watermark Asset Management Inc. acquired a new position in Wells Fargo & in the 1st quarter valued at about $158,000. 75.19% of the stock is owned by institutional investors.
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Several equities analysts have weighed in on WFC shares. Keefe, Bruyette & Woods set a $61.00 target price on Wells Fargo & and gave the company a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Monday, July 10th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Wells Fargo & in a research report on Monday, July 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $58.00 target price on shares of Wells Fargo & in a research report on Tuesday, September 5th. Finally, BidaskClub raised Wells Fargo & from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Wells Fargo & presently has a consensus rating of “Hold” and a consensus target price of $55.85.
Wells Fargo & Company (WFC) traded up 0.72% on Friday, hitting $51.66. The stock had a trading volume of 28,494,345 shares. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99. The company’s 50 day moving average price is $51.92 and its 200-day moving average price is $54.04. The company has a market cap of $256.44 billion, a price-to-earnings ratio of 12.72 and a beta of 0.96.
Wells Fargo & (NYSE:WFC) last announced its quarterly earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.05. The business had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a return on equity of 12.65% and a net margin of 23.25%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Equities research analysts anticipate that Wells Fargo & Company will post $4.16 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were issued a $0.39 dividend. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date was Wednesday, August 2nd. This represents a $1.56 annualized dividend and a dividend yield of 3.02%. Wells Fargo &’s dividend payout ratio (DPR) is 38.42%.
Wells Fargo & announced that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Wells Fargo & Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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