Calamos Wealth Management LLC Grows Stake in Wells Fargo & Company $WFC

Calamos Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 7.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 218,908 shares of the financial services provider’s stock after buying an additional 14,586 shares during the period. Calamos Wealth Management LLC’s holdings in Wells Fargo & Company were worth $18,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Wells Fargo & Company by 2,735,254.3% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after purchasing an additional 949,735,001 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Wells Fargo & Company by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 302,092,955 shares of the financial services provider’s stock valued at $24,203,688,000 after buying an additional 1,341,222 shares during the last quarter. Norges Bank acquired a new stake in Wells Fargo & Company during the 2nd quarter worth $3,990,551,000. Massachusetts Financial Services Co. MA lifted its position in Wells Fargo & Company by 54.9% in the second 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 acquiring an additional 5,894,747 shares during the last quarter. Finally, Amundi lifted its position in Wells Fargo & Company by 18.2% in the second quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock valued at $1,165,868,000 after acquiring an additional 2,180,693 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $94.30 on Wednesday. The stock has a market capitalization of $296.02 billion, a P/E ratio of 15.51, a P/E/G ratio of 0.98 and a beta of 1.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $95.85. The company’s fifty day moving average is $88.29 and its two-hundred day moving average is $83.39.

Wells Fargo & Company (NYSE:WFC) last issued 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 net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same quarter in the previous year, the firm earned $1.42 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 29.61%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WFC. Barclays raised their price objective on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price objective on Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Wednesday, October 15th. Finally, TD Cowen lifted their target price on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $92.04.

Wells Fargo & 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.