3Chopt Investment Partners LLC Has $2.73 Million Holdings in Wells Fargo & Company (NYSE:WFC)

3Chopt Investment Partners LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 2.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,991 shares of the financial services provider’s stock after purchasing an additional 1,065 shares during the quarter. 3Chopt Investment Partners LLC’s holdings in Wells Fargo & Company were worth $2,731,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Marshall Wace LLP increased its stake in Wells Fargo & Company by 3,295.6% during the 2nd quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock worth $138,493,000 after acquiring an additional 2,404,898 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after purchasing an additional 2,349,595 shares in the last quarter. Morningstar Investment Services LLC increased its position in shares of Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after purchasing an additional 1,951,477 shares during the period. Rokos Capital Management LLP raised its stake in Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after purchasing an additional 1,536,152 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. bought a new stake in Wells Fargo & Company during the first quarter worth about $84,819,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on WFC shares. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods lowered their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. The Goldman Sachs Group decreased their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, BMO Capital Markets increased 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 note on Thursday, July 11th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has an average rating of “Hold” and a consensus target price of $60.24.

Wells Fargo & Company Price Performance

Shares of WFC opened at $56.47 on Tuesday. The firm has a market cap of $196.87 billion, a PE ratio of 11.60, a price-to-earnings-growth 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. The business’s 50 day moving average price is $55.69 and its two-hundred day moving average price is $57.81. 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 (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. Wells Fargo & Company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, equities analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed 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 is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.