Qsemble Capital Management LP bought a new position in shares of Wells Fargo & Company (NYSE:WFC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 105,300 shares of the financial services provider's stock, valued at approximately $4,303,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Defender Capital LLC. bought a new stake in Wells Fargo & Company in the first quarter valued at $246,000. Fairfield Bush & CO. acquired a new position in Wells Fargo & Company during the 1st quarter worth approximately $124,000. Dakota Wealth Management acquired a new stake in Wells Fargo & Company in the first quarter valued at approximately $222,000. Candriam Luxembourg S.C.A. increased its holdings in shares of Wells Fargo & Company by 0.3% during the first quarter. Candriam Luxembourg S.C.A. now owns 273,936 shares of the financial services provider's stock valued at $13,274,000 after acquiring an additional 770 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its position in shares of Wells Fargo & Company by 24.5% during the first quarter. Zions Bancorporation N.A. now owns 9,630 shares of the financial services provider's stock worth $467,000 after purchasing an additional 1,895 shares during the period. Institutional investors and hedge funds own 72.47% of the company's stock.
Insider Transactions at Wells Fargo & Company
In other news, Director Richard K. Davis purchased 3,500 shares of the company's stock in a transaction on Thursday, November 9th. The stock was purchased at an average price of $41.22 per share, with a total value of $144,270.00. Following the completion of the purchase, the director now directly owns 4,244 shares in the company, valued at approximately $174,937.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by insiders.
Wells Fargo & Company Price Performance
Shares of WFC stock traded down $0.28 during trading hours on Wednesday, reaching $50.91. The stock had a trading volume of 9,074,206 shares, compared to its average volume of 17,945,854. The stock's fifty day simple moving average is $47.70 and its 200 day simple moving average is $44.08. The firm has a market capitalization of $184.89 billion, a PE ratio of 10.57, a PEG ratio of 1.05 and a beta of 1.17. Wells Fargo & Company has a 12 month low of $35.25 and a 12 month high of $51.44. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.24.
Wells Fargo & Company (NYSE:WFC - Get Free Report) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.30). The firm had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.30 billion. Wells Fargo & Company had a return on equity of 12.40% and a net margin of 16.60%. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 4.72 EPS for the current year.
Wells Fargo & Company Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 2nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.75%. Wells Fargo & Company's dividend payout ratio (DPR) is presently 29.05%.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $54.00 to $63.00 and gave the stock an "overweight" rating in a report on Tuesday. Barclays raised their price target on shares of Wells Fargo & Company from $54.00 to $66.00 and gave the company an "overweight" rating in a research report on Tuesday, January 2nd. Jefferies Financial Group reduced their target price on shares of Wells Fargo & Company from $48.00 to $43.00 in a research note on Tuesday, October 10th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $51.00 price target on shares of Wells Fargo & Company in a report on Tuesday, January 9th. Finally, Raymond James increased their price objective on shares of Wells Fargo & Company from $55.00 to $58.00 and gave the company a "strong-buy" rating in a research note on Tuesday, January 16th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $51.43.
Check Out Our Latest Analysis on WFC
About Wells Fargo & Company
(
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.
Further Reading
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC - Free Report).
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