Waterloo Capital L.P. Buys 2,961 Shares of Wells Fargo & Company $WFC

Waterloo Capital L.P. boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 4.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 63,398 shares of the financial services provider’s stock after buying an additional 2,961 shares during the quarter. Waterloo Capital L.P.’s holdings in Wells Fargo & Company were worth $5,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Access Investment Management LLC acquired a new position in shares of Wells Fargo & Company in the second quarter worth approximately $25,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at $27,000. Motco boosted its stake in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 326 shares during the last quarter. Finally, Accent Capital Management LLC bought a new position in Wells Fargo & Company during the first quarter worth $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $83.14 on Friday. The company has a market cap of $260.98 billion, a P/E ratio of 13.67, a PEG ratio of 1.18 and a beta of 1.22. The company has a fifty day simple moving average of $84.00 and a 200 day simple moving average of $80.29. Wells Fargo & Company has a 12-month low of $58.42 and a 12-month high of $88.64. 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 (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The firm had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently announced 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 is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group cut their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Barclays upped their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Bank of America lifted their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. TD Cowen increased their price target on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a report on Wednesday, October 15th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.57.

About Wells Fargo & Company

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.