ABN AMRO Bank N.V. Purchases Shares of 57,687 Wells Fargo & Company $WFC

ABN AMRO Bank N.V. acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 57,687 shares of the financial services provider’s stock, valued at approximately $4,837,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Wells Fargo & Company by 0.4% in the second quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after purchasing an additional 1,341,222 shares during the last quarter. Norges Bank bought a new stake in Wells Fargo & Company in the 2nd quarter worth about $3,990,551,000. Massachusetts Financial Services Co. MA increased its stake in Wells Fargo & Company by 7.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 17,859,680 shares of the financial services provider’s stock valued at $1,496,998,000 after buying an additional 1,223,999 shares during the last quarter. Amundi lifted its position in shares of Wells Fargo & Company by 18.2% during the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after buying an additional 2,180,693 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of Wells Fargo & Company by 5.5% during the 2nd quarter. Pzena Investment Management LLC now owns 10,371,812 shares of the financial services provider’s stock worth $830,990,000 after buying an additional 542,493 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 1.2%

Shares of WFC opened at $92.05 on Friday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The business has a 50-day moving average of $91.48 and a 200 day moving average of $85.56. The firm has a market cap of $288.96 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.02 and a beta of 1.09. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data 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 business had revenue of $11.97 billion for the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 earnings per share. As a group, research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be paid 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 payout ratio is currently 28.71%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. HSBC reaffirmed a “hold” rating and set a $74.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. TD Cowen decreased their target price on Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, January 15th. Evercore ISI lowered their target price on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, January 15th. Bank of America increased their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.92.

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.