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

Apella Capital LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,560 shares of the financial services provider’s stock after acquiring an additional 2,805 shares during the period. Apella Capital LLC’s holdings in Wells Fargo & Company were worth $1,524,000 as of its most recent SEC filing.

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

Wells Fargo & Company Price Performance

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

Wells Fargo & Company (NYSE:WFC) last announced its earnings results 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 company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the previous year, the business earned $1.25 EPS. The company’s revenue was up .8% on a year-over-year basis. Equities analysts expect 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 announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is 32.85%.

Wall Street Analyst Weigh In

WFC has been the subject of several analyst reports. The Goldman Sachs Group reduced their price objective 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. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group cut 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. Finally, Evercore ISI boosted their target price on Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.41.

About Wells Fargo & Company

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.