National Investment Services Inc. WI decreased its position in shares of Wells Fargo & Company (NYSE:WFC) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,635 shares of the financial services provider’s stock after selling 2,468 shares during the quarter. Wells Fargo & comprises 2.2% of National Investment Services Inc. WI’s holdings, making the stock its 20th largest holding. National Investment Services Inc. WI’s holdings in Wells Fargo & were worth $2,141,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners boosted its position in shares of Wells Fargo & by 140.1% during the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after buying an additional 11,139,780 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Wells Fargo & by 83.9% during the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after buying an additional 3,637,100 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Wells Fargo & by 49.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock valued at $540,657,000 after buying an additional 3,214,592 shares during the last quarter. APG Asset Management N.V. boosted its position in shares of Wells Fargo & by 38.8% during the second quarter. APG Asset Management N.V. now owns 9,587,279 shares of the financial services provider’s stock valued at $531,231,000 after buying an additional 2,681,497 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in Wells Fargo & in the first quarter worth $90,858,000. Hedge funds and other institutional investors own 75.86% of the company’s stock.
Several research analysts have weighed in on WFC shares. Vetr raised Wells Fargo & to a “strong-buy” rating in a research report on Thursday, September 7th. Berenberg Bank cut Wells Fargo & from a “hold” rating to a “sell” rating and boosted their price objective for the stock from $35.00 to $45.00 in a research report on Friday, July 21st. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, August 16th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, October 11th. Finally, Robert W. Baird reissued a “buy” rating and issued a $58.00 price objective on shares of Wells Fargo & in a research report on Tuesday, September 5th. Six equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $57.20.
Shares of Wells Fargo & Company (NYSE:WFC) opened at $54.60 on Friday. The firm has a market capitalization of $269,060.00, a PE ratio of 13.05, a P/E/G ratio of 1.30 and a beta of 0.97. Wells Fargo & Company has a fifty-two week low of $49.27 and a fifty-two week high of $59.99. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.
Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. equities analysts predict that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio (DPR) is currently 40.31%.
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About Wells Fargo &
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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