45,635 Shares in Wells Fargo & Company $WFC Acquired by Hilton Capital Management LLC

Hilton Capital Management LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,635 shares of the financial services provider’s stock, valued at approximately $3,656,000.

Several other large investors have also made changes to their positions in WFC. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Wells Fargo & Company by 2,735,254.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock valued at $76,095,550,000 after buying an additional 949,735,001 shares during the last quarter. Norges Bank acquired a new position in Wells Fargo & Company during the 2nd quarter valued at about $3,990,551,000. Massachusetts Financial Services Co. MA grew its position in Wells Fargo & Company by 54.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 16,635,681 shares of the financial services provider’s stock worth $1,332,851,000 after purchasing an additional 5,894,747 shares during the last quarter. Amundi increased its stake in shares of Wells Fargo & Company by 18.2% in the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after purchasing an additional 2,180,693 shares during the period. Finally, Laurel Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 8,010.7% during the second quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock valued at $158,135,000 after buying an additional 1,949,395 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup raised their target price on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 23rd. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Finally, Bank of America boosted their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $90.04.

Wells Fargo & Company Trading Up 0.2%

Wells Fargo & Company stock opened at $92.76 on Friday. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $93.42. The firm’s 50 day moving average price is $85.51 and its two-hundred day moving average price is $81.69. The firm has a market cap of $291.18 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.96 and a beta of 1.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the company posted $1.42 EPS. On average, research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s payout ratio is 29.61%.

Wells Fargo & 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.