CWA Asset Management Group LLC Raises Position in Wells Fargo & Company $WFC

CWA Asset Management Group LLC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 394.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,115 shares of the financial services provider’s stock after acquiring an additional 53,533 shares during the quarter. CWA Asset Management Group LLC’s holdings in Wells Fargo & Company were worth $5,626,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares during the period. Plancorp LLC increased its stake in shares of Wells Fargo & Company by 3.1% in the 1st quarter. Plancorp LLC now owns 15,349 shares of the financial services provider’s stock worth $1,102,000 after acquiring an additional 460 shares in the last quarter. Teewinot Capital Advisers L.L.C. increased its stake in shares of Wells Fargo & Company by 13.4% in the 1st quarter. Teewinot Capital Advisers L.L.C. now owns 628,205 shares of the financial services provider’s stock worth $45,099,000 after acquiring an additional 74,445 shares in the last quarter. Talon Private Wealth LLC lifted its position in Wells Fargo & Company by 3,463.7% during the 1st quarter. Talon Private Wealth LLC now owns 28,545 shares of the financial services provider’s stock valued at $2,073,000 after acquiring an additional 27,744 shares during the period. Finally, Temasek Holdings Private Ltd bought a new stake in Wells Fargo & Company during the first quarter worth about $69,602,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $95.15 on Monday. The company has a market cap of $298.68 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 0.87 and a beta of 1.09. The business’s fifty day simple moving average is $88.82 and its two-hundred day simple moving average is $83.82. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $95.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the prior year, the company posted $1.42 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WFC. Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Morgan Stanley lifted their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. TD Cowen increased their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Finally, Evercore ISI raised their price target on Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a report on Monday, December 15th. Eleven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.