Usca Ria LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 49.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,104 shares of the financial services provider’s stock after buying an additional 42,838 shares during the period. Wells Fargo & accounts for approximately 0.9% of Usca Ria LLC’s investment portfolio, making the stock its 18th biggest position. Usca Ria LLC’s holdings in Wells Fargo & were worth $7,209,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners increased its holdings in shares of Wells Fargo & by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock valued at $1,057,700,000 after purchasing an additional 11,139,780 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Wells Fargo & by 83.9% in the first quarter. Canada Pension Plan Investment Board now owns 7,972,116 shares of the financial services provider’s stock valued at $443,728,000 after acquiring an additional 3,637,100 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in Wells Fargo & by 49.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,713,557 shares of the financial services provider’s stock worth $540,657,000 after purchasing an additional 3,214,592 shares during the period. APG Asset Management N.V. lifted its position in Wells Fargo & by 38.8% during the second quarter. APG Asset Management N.V. now owns 9,587,279 shares of the financial services provider’s stock worth $531,231,000 after purchasing an additional 2,681,497 shares during the period. Finally, Karp Capital Management Corp bought a new stake in Wells Fargo & during the first quarter worth about $90,858,000. Institutional investors and hedge funds own 75.86% of the company’s stock.
Several research firms recently weighed in on WFC. Vetr raised shares of Wells Fargo & from a “sell” rating to a “strong-buy” rating in a research report on Monday, November 6th. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, October 11th. Robert W. Baird reissued a “buy” rating and set a $58.00 target price on shares of Wells Fargo & in a research note on Friday, October 6th. Finally, Citigroup Inc. reissued a “buy” rating and set a $65.00 target price (up previously from $60.00) on shares of Wells Fargo & in a research note on Monday, October 9th. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $57.20.
Wells Fargo & (NYSE:WFC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). Wells Fargo & had a return on equity of 9.33% and a net margin of 21.23%. The firm had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.30 billion. During the same quarter in the prior year, the business earned $1.03 earnings per share. Wells Fargo &’s revenue for the quarter was down 1.8% on a year-over-year basis. sell-side analysts anticipate that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.
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About Wells Fargo &
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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