Wealthfront Advisers LLC Has $35.96 Million Stock Position in Wells Fargo & Company $WFC

Wealthfront Advisers LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 3.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 429,018 shares of the financial services provider’s stock after acquiring an additional 13,515 shares during the period. Wealthfront Advisers LLC’s holdings in Wells Fargo & Company were worth $35,960,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Wells Fargo & Company in the second quarter valued at about $3,990,551,000. Massachusetts Financial Services Co. MA lifted its stake in Wells Fargo & Company by 54.9% in the 2nd 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 in the last quarter. Amundi boosted its position in Wells Fargo & Company by 18.2% during the 2nd quarter. Amundi now owns 14,155,753 shares of the financial services provider’s stock worth $1,165,868,000 after acquiring an additional 2,180,693 shares during the last quarter. Laurel Wealth Advisors LLC grew its stake in shares of Wells Fargo & Company by 8,010.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock worth $158,135,000 after acquiring an additional 1,949,395 shares in the last quarter. Finally, Mawer Investment Management Ltd. acquired a new stake in shares of Wells Fargo & Company in the third quarter valued at approximately $147,165,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of Wells Fargo & Company from $99.00 to $99.50 and gave the stock a “neutral” rating in a report on Monday. Freedom Capital cut Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 15th. Bank of America upped their target price on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Cfra Research upgraded Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of Wells Fargo & Company in a research report on Thursday, January 15th. Thirteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average price target of $97.29.

Wells Fargo & Company Stock Up 0.8%

WFC opened at $94.73 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. The stock has a fifty day moving average of $91.83 and a 200-day moving average of $85.77. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $97.76. The company has a market capitalization of $297.37 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.03 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. The company had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 earnings per share. On average, equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be 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 is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Wells Fargo & Company 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.