Verde Servicos Internacionais S.A. Makes New Investment in Wells Fargo & Company $WFC

Verde Servicos Internacionais S.A. acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 118,445 shares of the financial services provider’s stock, valued at approximately $9,928,000. Wells Fargo & Company makes up approximately 2.8% of Verde Servicos Internacionais S.A.’s holdings, making the stock its 13th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Access Investment Management LLC bought a new position in Wells Fargo & Company during the second quarter worth about $25,000. Marquette Asset Management LLC raised its holdings in shares of Wells Fargo & Company by 472.4% in the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after buying an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the 3rd quarter worth approximately $30,000. Kilter Group LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $31,000. Finally, Aventus Investment Advisors Inc. acquired a new stake in Wells Fargo & Company in the 3rd quarter valued at $37,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $89.08 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $91.94 and a 200 day simple moving average of $85.85. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The firm has a market cap of $279.63 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.01 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 EPS for the quarter, beating the consensus estimate of $1.66 by $0.10. The company had revenue of $11.97 billion during the quarter, compared to analysts’ expectations of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.43 EPS. 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 disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WFC. Bank of America lifted their price objective on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Keefe, Bruyette & Woods increased their target price on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 17th. Argus boosted their price target on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, January 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Finally, Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and an average target price of $97.29.

Wells Fargo & Company Company Profile

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.