7,443 Shares in Wells Fargo & Company $WFC Acquired by Weaver Capital Management LLC

Weaver Capital Management LLC purchased a new stake in Wells Fargo & Company (NYSE:WFC) during the third quarter, HoldingsChannel.com reports. The firm purchased 7,443 shares of the financial services provider’s stock, valued at approximately $624,000.

Several other institutional investors also recently made changes to their positions in WFC. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Wells Fargo & Company by 2,735,254.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after buying an additional 949,735,001 shares during the period. Vanguard Group Inc. increased its stake in Wells Fargo & Company by 0.4% during the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock worth $24,203,688,000 after acquiring an additional 1,341,222 shares during the last quarter. Norges Bank purchased a new position in shares of Wells Fargo & Company in the 2nd quarter worth about $3,990,551,000. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 valued at $1,332,851,000 after purchasing an additional 5,894,747 shares in the last quarter. Finally, Amundi lifted its stake in shares of Wells Fargo & Company by 18.2% in the 2nd 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 in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $94.53 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The company’s fifty day moving average price is $88.10 and its two-hundred day moving average price is $83.24. The firm has a market capitalization of $296.72 billion, a P/E ratio of 15.55, a P/E/G ratio of 0.99 and a beta of 1.11. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $95.85.

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

Wells Fargo & Company Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio is 29.61%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays raised their price target on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Evercore ISI raised their target price on shares of Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. UBS Group decreased their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Citigroup increased their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.04.

About Wells Fargo & Company

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.