Core Alternative Capital Increases Holdings in Wells Fargo & Company (NYSE:WFC)

Core Alternative Capital grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 82.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,401 shares of the financial services provider’s stock after acquiring an additional 5,154 shares during the period. Core Alternative Capital’s holdings in Wells Fargo & Company were worth $677,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WFC. 9258 Wealth Management LLC grew its stake in shares of Wells Fargo & Company by 4.1% during the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 516 shares during the period. Evoke Wealth LLC boosted its stake in Wells Fargo & Company by 34.3% during the fourth quarter. Evoke Wealth LLC now owns 7,224 shares of the financial services provider’s stock valued at $356,000 after buying an additional 1,846 shares during the last quarter. Eagle Asset Management Inc. lifted its position in Wells Fargo & Company by 978.9% during the fourth quarter. Eagle Asset Management Inc. now owns 135,003 shares of the financial services provider’s stock valued at $6,645,000 after purchasing an additional 122,490 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Wells Fargo & Company during the fourth quarter valued at approximately $594,000. Finally, Steward Partners Investment Solutions LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth $236,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.9 %

Wells Fargo & Company stock opened at $55.90 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $55.74 and a two-hundred day moving average price of $57.81. The firm has a market capitalization of $194.89 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. During the same period last year, the firm posted $1.25 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. This is an increase 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 dividend payout ratio is currently 32.85%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WFC. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and cut their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Evercore ISI decreased their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, September 6th. The Goldman Sachs Group cut their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. BMO Capital Markets raised their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, September 3rd. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average 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.