Wells Fargo & Company (NYSE:WFC) shares bought by Chicago Capital LLC

Chicago Capital LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 82.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,969 shares of the financial services provider’s stock after buying an additional 9,000 shares during the quarter. Chicago Capital LLC’s holdings in Wells Fargo & Company were worth $1,186,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WFC. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company during the fourth quarter valued at approximately $25,000. Valued Wealth Advisors LLC boosted its holdings in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Wells Fargo & Company in the 4th quarter valued at about $34,000. Finally, Beaird Harris Wealth Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 75.90% of the company’s shares.

Wells Fargo & Company stock performance

Shares of WFC stock opened at $54.00 on Friday. The firm has a market cap of $188.26 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. The company has a 50-day moving average price of $57.31 and a 200-day moving average price of $57.93. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85, and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC – Get Your Free Report ) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period last year, the company posted EPS of $1.25. The company’s quarterly revenue was up 0.8% year over year. sell-side analysts anticipate that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company raised its dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a dividend of $1.60 on an annualized basis and a yield of 2.96%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9. Wells Fargo & Company’s payout ratio is 32.85%.

Analysts on Wall Street are forecasting an increase

A number of brokerages recently weighed in on WFC. Keefe, Bruyette & Woods dropped their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, 15 July. Evercore ISI dropped their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, September 3rd. Morgan Stanley boosted their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and decreased their price target for the stock from $62.00 to $59.00 in a research report on Friday, 16 August. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $60.29, based on data from MarketBeat.com.

Check out our latest report on Wells Fargo & Company

Company Profile Wells Fargo & Company

(Free report)

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

Further reading

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