Vectors Research Management LLC Invests $1.37 Million in Wells Fargo & Company $WFC

Vectors Research Management LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the third quarter, Holdings Channel reports. The firm bought 16,310 shares of the financial services provider’s stock, valued at approximately $1,367,000.

Several other institutional investors also recently bought and sold shares of WFC. Hidden Cove Wealth Management LLC boosted its position in Wells Fargo & Company by 2.0% in the 3rd quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock worth $499,000 after purchasing an additional 119 shares in the last quarter. Zullo Investment Group Inc. increased its holdings in shares of Wells Fargo & Company by 2.0% during the 3rd quarter. Zullo Investment Group Inc. now owns 6,340 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 122 shares in the last quarter. Embree Financial Group lifted its stake in shares of Wells Fargo & Company by 3.9% in the 3rd quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 126 shares during the period. Trust Co. of Vermont lifted its stake in shares of Wells Fargo & Company by 1.1% in the 3rd quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock valued at $1,014,000 after purchasing an additional 126 shares during the period. Finally, Traphagen Investment Advisors LLC boosted its holdings in Wells Fargo & Company by 2.0% during the third quarter. Traphagen Investment Advisors LLC now owns 6,346 shares of the financial services provider’s stock worth $532,000 after buying an additional 127 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on WFC. Argus lifted their price objective on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a report on Thursday. Morgan Stanley raised their target price on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. TD Cowen lowered their price target on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, CICC Research started coverage on Wells Fargo & Company in a report on Wednesday. They issued a “market perform” rating and a $96.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $94.87.

View Our Latest Analysis on Wells Fargo & Company

Wells Fargo & Company Price Performance

NYSE:WFC opened at $88.36 on Friday. The stock has a 50 day moving average of $90.17 and a two-hundred day moving average of $84.81. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76. The firm has a market cap of $277.37 billion, a P/E ratio of 14.09, a price-to-earnings-growth ratio of 0.81 and a beta of 1.09. The company has a current ratio of 0.90, a quick ratio of 0.84 and a debt-to-equity ratio of 1.05.

Wells Fargo & Company (NYSE:WFCGet Free Report) last issued its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The firm had revenue of $21.29 billion for the quarter, compared to analyst estimates of $21.63 billion. During the same period in the previous year, the company posted $1.43 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.0%. Wells Fargo & Company’s dividend payout ratio is presently 28.71%.

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Wells Fargo & Company Company Profile

(Free Report)

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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