Profund Advisors LLC Buys 5,751 Shares of Wells Fargo & Company $WFC

Profund Advisors LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 15.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,673 shares of the financial services provider’s stock after buying an additional 5,751 shares during the period. Profund Advisors LLC’s holdings in Wells Fargo & Company were worth $3,661,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of 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 acquiring an additional 25,436 shares in the last quarter. Johnson Investment Counsel Inc. raised its position in Wells Fargo & Company by 3.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 31,362 shares of the financial services provider’s stock valued at $2,513,000 after purchasing an additional 1,165 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Wells Fargo & Company by 3.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 84,754 shares of the financial services provider’s stock worth $6,790,000 after buying an additional 2,704 shares during the period. Cypress Capital Group purchased a new stake in shares of Wells Fargo & Company in the 2nd quarter worth $205,000. Finally, Welch Group LLC grew its position in shares of Wells Fargo & Company by 4.7% during the 2nd quarter. Welch Group LLC now owns 22,467 shares of the financial services provider’s stock worth $1,800,000 after buying an additional 1,006 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WFC. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Wells Fargo & Company in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Wednesday, January 21st. HSBC reiterated a “hold” rating and set a $74.00 price objective on shares of Wells Fargo & Company in a research note on Wednesday, January 7th. Bank of America boosted their price objective on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $109.00 target price on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Thirteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $97.29.

Wells Fargo & Company Price Performance

Shares of WFC opened at $94.73 on Tuesday. The company has a 50 day moving average of $91.83 and a two-hundred day moving average of $85.77. The company has a quick ratio of 0.84, a current ratio of 0.90 and a debt-to-equity ratio of 1.05. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $97.76. The company has a market cap of $297.37 billion, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 1.03 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last issued 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 firm had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a return on equity of 12.90% and a net margin of 17.27%.The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.71%.

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.