Jacobi Capital Management LLC Acquires 1,401 Shares of Wells Fargo & Company (NYSE:WFC)

Jacobi Capital Management LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,241 shares of the financial services provider’s stock after purchasing an additional 1,401 shares during the quarter. Jacobi Capital Management LLC’s holdings in Wells Fargo & Company were worth $593,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Wells Fargo & Company during the 4th quarter valued at approximately $1,566,470,000. Capital World Investors grew its holdings in Wells Fargo & Company by 37.4% during the 4th quarter. Capital World Investors now owns 30,966,799 shares of the financial services provider’s stock valued at $1,485,787,000 after buying an additional 8,421,820 shares in the last quarter. Ardevora Asset Management LLP purchased a new position in Wells Fargo & Company during the 1st quarter valued at approximately $117,767,000. Voleon Capital Management LP purchased a new position in Wells Fargo & Company during the 4th quarter valued at approximately $83,965,000. Finally, Schonfeld Strategic Advisors LLC grew its holdings in Wells Fargo & Company by 128.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,586,155 shares of the financial services provider’s stock valued at $124,085,000 after buying an additional 1,452,365 shares in the last quarter. Institutional investors own 74.01% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of several research analyst reports. The Goldman Sachs Group raised their price target on Wells Fargo & Company from $54.00 to $56.00 in a report on Thursday, April 14th. Credit Suisse Group dropped their target price on Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Monday, July 18th. Jefferies Financial Group dropped their target price on Wells Fargo & Company from $55.00 to $47.00 in a report on Monday, July 11th. Morgan Stanley lifted their target price on Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 18th. Finally, Raymond James dropped their target price on Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, June 24th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Wells Fargo & Company Trading Up 2.3 %

WFC opened at $43.76 on Friday. The firm has a market cap of $165.98 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.08 and a beta of 1.18. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. Wells Fargo & Company has a 12 month low of $36.54 and a 12 month high of $60.30. The stock has a fifty day moving average price of $41.50 and a 200-day moving average price of $46.94.

Wells Fargo & Company (NYSE:WFCGet Rating) last announced its earnings results on Friday, July 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.14). Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The business had revenue of $17.03 billion for the quarter, compared to analyst estimates of $17.54 billion. During the same period in the prior year, the company earned $1.38 earnings per share. The company’s quarterly revenue was down 16.0% on a year-over-year basis. As a group, equities research analysts anticipate that Wells Fargo & Company will post 4 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 5th will be given a dividend of $0.30 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, August 4th. Wells Fargo & Company’s dividend payout ratio is currently 23.98%.

Wells Fargo & Company Company Profile

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

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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