Chicago Capital LLC lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 82.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,969 shares of the financial services provider’s stock after purchasing an additional 9,000 shares during the quarter. Chicago Capital LLC’s holdings in Wells Fargo & Company were worth $1,186,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in WFC. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 53.7% in the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth approximately $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.
Wells Fargo & Company Stock Performance
Shares of WFC stock opened at $54.00 on Friday. The firm has a market capitalization of $188.26 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. The company has a 50 day moving average price of $57.31 and a 200 day moving average price of $57.93. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. 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 Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. 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. Wells Fargo & Company’s payout ratio is 32.85%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on WFC. Keefe, Bruyette & Woods dropped 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 report on Monday, July 15th. Evercore ISI dropped their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. Morgan Stanley upped their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and dropped their price target for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Twelve 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, the company presently has a consensus rating of “Hold” and a consensus price target of $60.29.
Check Out Our Latest Report on Wells Fargo & Company
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.
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