JBF Capital Inc. Makes New $16.02 Million Investment in Wells Fargo & Company $WFC

JBF Capital Inc. acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 200,000 shares of the financial services provider’s stock, valued at approximately $16,024,000. Wells Fargo & Company accounts for 2.6% of JBF Capital Inc.’s investment portfolio, making the stock its 6th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Accretive Wealth Partners LLC bought a new stake in shares of Wells Fargo & Company in the 1st quarter worth about $399,000. Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Wells Fargo & Company by 10.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 758,376 shares of the financial services provider’s stock worth $54,471,000 after buying an additional 71,740 shares in the last quarter. Three Bridge Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $364,000. Allianz SE boosted its holdings in shares of Wells Fargo & Company by 22.6% in the 1st quarter. Allianz SE now owns 212,335 shares of the financial services provider’s stock worth $15,244,000 after acquiring an additional 39,150 shares in the last quarter. Finally, NatWest Group plc grew its position in Wells Fargo & Company by 4.6% during the 1st quarter. NatWest Group plc now owns 180,418 shares of the financial services provider’s stock worth $12,952,000 after acquiring an additional 7,934 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 0.3%

Shares of NYSE WFC opened at $84.98 on Friday. The firm has a market capitalization of $266.77 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $88.64. The firm’s 50-day moving average is $83.71 and its 200-day moving average is $79.86.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the firm posted $1.42 earnings per share. Wells Fargo & Company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Analyst Upgrades and Downgrades

WFC has been the subject of several research analyst reports. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target on Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a report on Wednesday, October 15th. Barclays increased their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Morgan Stanley upped their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.