Ameliora Wealth Management Ltd. purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 2,000 shares of the financial services provider's stock, valued at approximately $81,000.
Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Capital Investment Advisors LLC increased its holdings in Wells Fargo & Company by 0.4% in the 3rd quarter. Capital Investment Advisors LLC now owns 62,426 shares of the financial services provider's stock worth $2,511,000 after buying an additional 237 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its holdings in Wells Fargo & Company by 0.8% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 29,744 shares of the financial services provider's stock worth $1,165,000 after buying an additional 238 shares in the last quarter. Buttonwood Financial Advisors Inc. increased its holdings in Wells Fargo & Company by 3.5% in the 3rd quarter. Buttonwood Financial Advisors Inc. now owns 7,171 shares of the financial services provider's stock worth $304,000 after buying an additional 241 shares in the last quarter. Hardy Reed LLC increased its holdings in Wells Fargo & Company by 4.9% in the 2nd quarter. Hardy Reed LLC now owns 5,171 shares of the financial services provider's stock worth $203,000 after buying an additional 242 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in Wells Fargo & Company by 1.0% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 24,859 shares of the financial services provider's stock worth $974,000 after buying an additional 248 shares in the last quarter. 72.24% of the stock is currently owned by institutional investors.
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Wells Fargo & Company Stock Up 0.7 %
Shares of WFC opened at $46.12 on Friday. The business's 50 day moving average is $43.57 and its 200 day moving average is $43.71. The company has a market capitalization of $175.74 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 0.92 and a beta of 1.18. Wells Fargo & Company has a 12-month low of $36.54 and a 12-month high of $60.30. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.08.
Wells Fargo & Company (NYSE:WFC – Get Rating) last issued its earnings results on Friday, January 13th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The company had revenue of $19.66 billion for the quarter, compared to the consensus estimate of $20.04 billion. Wells Fargo & Company had a return on equity of 9.28% and a net
margin of 15.91%. The firm's quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the company earned $1.38 EPS. Research analysts expect that Wells Fargo & Company will post 4.86 earnings per share for the current fiscal year.
Wells Fargo & Company Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Friday, February 3rd will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.60%. The ex-dividend date is Thursday, February 2nd. Wells Fargo & Company's dividend payout ratio (DPR) is presently 38.22%.
Wall Street Analyst Weigh In
Several research firms recently commented on WFC. StockNews.com began coverage on Wells Fargo & Company in a report on Wednesday, October 12th. They issued a "hold" rating for the company. Jefferies Financial Group downgraded Wells Fargo & Company from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $49.00 to $46.00 in a report on Tuesday, January 17th. Morgan Stanley dropped their target price on Wells Fargo & Company from $60.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, December 15th. Odeon Capital Group raised Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $51.79 target price on the stock in a research report on Tuesday, January 10th. Finally, Cfra raised Wells Fargo & Company to a "buy" rating and set a $50.00 price objective on the stock in a research report on Friday, January 13th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.62.
Wells Fargo & Company Profile
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Wells Fargo & Co is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage products and services, and consumer and commercial finance. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management.
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