Wells Fargo & Company (NYSE:WFC) Shares Bought by Chicago Capital LLC

Chicago Capital LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 82.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,969 shares of the financial services provider’s stock after purchasing an additional 9,000 shares during the quarter. Chicago Capital LLC’s holdings in Wells Fargo & Company were worth $1,186,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WFC. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $54.00 on Friday. The firm has a market capitalization of $188.26 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. The company has a 50 day moving average price of $57.31 and a 200 day moving average price of $57.93. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period last year, the company posted $1.25 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is 32.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WFC. Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Evercore ISI dropped their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Morgan Stanley upped their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.