Oppenheimer & Co. Inc. Has $2.40 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Oppenheimer & Co. Inc. lessened its position in shares of Wells Fargo & Company (NYSE:WFC) by 23.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 40,327 shares of the financial services provider’s stock after selling 12,307 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Wells Fargo & Company were worth $2,395,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WFC. Capital World Investors grew its holdings in Wells Fargo & Company by 1.0% during the 4th quarter. Capital World Investors now owns 26,319,775 shares of the financial services provider’s stock worth $1,295,459,000 after acquiring an additional 263,176 shares during the period. Sanders Capital LLC grew its stake 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 purchasing an additional 781,772 shares during the period. California State Teachers Retirement System increased its holdings in Wells Fargo & Company by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 5,905,934 shares of the financial services provider’s stock worth $290,690,000 after purchasing an additional 25,896 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after buying an additional 2,349,595 shares during the period. Finally, First Pacific Advisors LP grew its position in shares of Wells Fargo & Company by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock worth $313,500,000 after buying an additional 108,480 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $53.81 on Tuesday. The firm has a 50-day moving average price of $56.49 and a 200-day moving average price of $57.92. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $187.60 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a dividend of $0.40 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.97%. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Morgan Stanley upped their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, September 3rd. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wells Fargo & Company has a consensus rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & 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.