&Partners Increases Stake in Wells Fargo & Company (NYSE:WFC)

&Partners grew its stake in Wells Fargo & Company (NYSE:WFC) by 97.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 14,071 shares of the financial services provider’s stock after buying an additional 6,955 shares during the quarter. &Partners’ holdings in Wells Fargo & Company were worth $800,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Wells Fargo & Company during the fourth quarter worth approximately $2,623,044,000. Capital World Investors increased its position in Wells Fargo & Company by 1.0% during the fourth quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after buying an additional 263,176 shares during the period. Sanders Capital LLC increased its position in Wells Fargo & Company by 3.2% during the fourth quarter. Sanders Capital LLC now owns 25,218,016 shares of the financial services provider’s stock worth $1,241,231,000 after buying an additional 781,772 shares during the period. Charles Schwab Investment Management Inc. increased its position in Wells Fargo & Company by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,237,905 shares of the financial services provider’s stock worth $1,143,770,000 after buying an additional 526,178 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Wells Fargo & Company by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,941,772 shares of the financial services provider’s stock worth $932,352,000 after buying an additional 596,521 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 1.5 %

WFC opened at $58.10 on Monday. The business’s fifty day moving average is $59.54 and its two-hundred day moving average is $54.74. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87. The company has a market cap of $202.55 billion, a price-to-earnings ratio of 12.13, a PEG ratio of 1.45 and a beta of 1.17. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, April 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.10. The company had revenue of $20.86 billion for the quarter, compared to the consensus estimate of $20.19 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.63%. Wells Fargo & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. Analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.40 dividend on an annualized basis and a yield of 2.41%. Wells Fargo & Company’s payout ratio is 29.23%.

Analyst Ratings Changes

Several research analysts have commented on WFC shares. The Goldman Sachs Group lifted their price target on Wells Fargo & Company from $57.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $62.00 target price (up previously from $56.00) on shares of Wells Fargo & Company in a report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. StockNews.com raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Finally, HSBC boosted their target price on Wells Fargo & Company from $55.00 to $60.00 and gave the company a “hold” rating in a report on Thursday, March 28th. Fourteen research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $58.99.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.