Allied Investment Advisors LLC Grows Position in Wells Fargo & Company (NYSE:WFC)

Allied Investment Advisors LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 205,941 shares of the financial services provider’s stock after acquiring an additional 1,694 shares during the quarter. Wells Fargo & Company makes up approximately 2.3% of Allied Investment Advisors LLC’s investment portfolio, making the stock its 13th biggest position. Allied Investment Advisors LLC’s holdings in Wells Fargo & Company were worth $11,634,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WFC. Dimensional Fund Advisors LP lifted its holdings in shares of Wells Fargo & Company by 4.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock valued at $1,178,591,000 after acquiring an additional 831,975 shares in the last quarter. 1832 Asset Management L.P. raised its position in Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after purchasing an additional 2,349,595 shares during the period. First Pacific Advisors LP lifted its stake in shares of Wells Fargo & Company by 2.1% during the second quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock worth $313,500,000 after purchasing an additional 108,480 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Wells Fargo & Company by 38.1% in the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after buying an additional 1,415,647 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Wells Fargo & Company by 1.0% in the first quarter. Russell Investments Group Ltd. now owns 4,662,953 shares of the financial services provider’s stock valued at $270,035,000 after buying an additional 48,419 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock traded up $1.98 on Friday, hitting $56.96. 14,594,449 shares of the stock traded hands, compared to its average volume of 18,007,127. The company has a market capitalization of $198.58 billion, a PE ratio of 11.70, a PEG ratio of 1.32 and a beta of 1.16. The company’s fifty day moving average is $55.36 and its 200 day moving average is $57.75. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a 1-year low of $38.58 and a 1-year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the firm posted $1.25 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, equities research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s payout ratio is presently 32.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Evercore ISI boosted their target price on shares of Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday. Keefe, Bruyette & Woods lowered their price target on shares of 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. BMO Capital Markets boosted their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Twelve research 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. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Hold” and an average target price 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.