Czech National Bank Acquires 28,976 Shares of Wells Fargo & Company (NYSE:WFC)

Czech National Bank lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 693,384 shares of the financial services provider’s stock after acquiring an additional 28,976 shares during the quarter. Czech National Bank’s holdings in Wells Fargo & Company were worth $39,169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. Campbell & CO Investment Adviser LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $594,000. Cetera Advisor Networks LLC boosted its stake in shares of Wells Fargo & Company by 2.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 348,187 shares of the financial services provider’s stock worth $17,138,000 after acquiring an additional 8,943 shares during the period. Exencial Wealth Advisors LLC boosted its stake in shares of Wells Fargo & Company by 9.0% during the 4th quarter. Exencial Wealth Advisors LLC now owns 9,472 shares of the financial services provider’s stock worth $466,000 after acquiring an additional 782 shares during the period. Stephens Inc. AR boosted its stake in shares of Wells Fargo & Company by 2.0% during the 4th quarter. Stephens Inc. AR now owns 97,338 shares of the financial services provider’s stock worth $4,791,000 after acquiring an additional 1,931 shares during the period. Finally, Angeles Wealth Management LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at $223,000. 75.90% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Down 0.6 %

Shares of NYSE WFC opened at $54.98 on Friday. The stock has a 50-day moving average price of $55.43 and a two-hundred day moving average price of $57.76. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The company has a market cap of $191.68 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 1.32 and a beta of 1.16.

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

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.91%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is currently 32.85%.

Analysts Set New Price Targets

Several research firms recently issued reports on WFC. 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 note on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and reduced their price target for the company from $62.00 to $59.00 in a research note on Friday, August 16th. BMO Capital Markets boosted their price target on 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. Finally, Keefe, Bruyette & Woods reduced 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 given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.41.

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.