Point72 Europe London LLP Invests $11.24 Million in Wells Fargo & Company (NYSE:WFC)

Point72 Europe London LLP acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 189,300 shares of the financial services provider’s stock, valued at approximately $11,243,000.

Several other large investors have also recently added to or reduced their stakes in WFC. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at $25,000. Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $32,000. Beaird Harris Wealth Management LLC acquired a new position in Wells Fargo & Company in the 4th quarter worth about $34,000. Valued Wealth Advisors LLC raised its stake in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in shares of Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on WFC. BMO Capital Markets raised their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Evercore ISI reduced their price objective on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods decreased 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 note on Monday, July 15th. Twelve equities research 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, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Stock Down 1.7 %

WFC opened at $54.18 on Wednesday. The business has a 50 day moving average of $56.01 and a 200-day moving average of $57.86. The stock has a market capitalization of $184.42 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.32 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 1-year low of $38.38 and a 1-year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the prior year, the firm earned $1.25 EPS. The business’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were issued a $0.40 dividend. 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. This represents a $1.60 annualized dividend and a yield of 2.95%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

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.