Wells Fargo & Company $WFC Stake Boosted by ABN Amro Investment Solutions

ABN Amro Investment Solutions boosted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 236.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 79,948 shares of the financial services provider’s stock after purchasing an additional 56,218 shares during the quarter. ABN Amro Investment Solutions’ holdings in Wells Fargo & Company were worth $6,701,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Access Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $25,000. Marquette Asset Management LLC grew its position in Wells Fargo & Company by 472.4% during the 3rd quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 274 shares in the last quarter. Grey Fox Wealth Advisors LLC acquired a new stake in Wells Fargo & Company during the 3rd quarter valued at $30,000. Kilter Group LLC acquired a new stake in Wells Fargo & Company during the 2nd quarter valued at $31,000. Finally, Aventus Investment Advisors Inc. purchased a new stake in shares of Wells Fargo & Company in the third quarter valued at $37,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $86.94 on Friday. The company’s fifty day moving average is $91.80 and its 200-day moving average is $85.90. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $97.76. The firm has a market cap of $272.92 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09. 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 (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.10. The business had revenue of $11.97 billion during the quarter, compared to analyst estimates of $21.63 billion. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. Wells Fargo & Company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS. Equities analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Friday, February 6th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is 28.71%.

Analysts Set New Price Targets

WFC has been the topic of a number of research analyst reports. UBS Group reiterated a “buy” rating and set a $113.00 price target on shares of Wells Fargo & Company in a report on Wednesday, February 4th. HSBC restated a “hold” rating and set a $74.00 price objective on shares of Wells Fargo & Company in a research report on Wednesday, January 7th. Wolfe Research reiterated an “outperform” rating and issued a $109.00 target price on shares of Wells Fargo & Company in a report on Wednesday, January 7th. Argus increased their price target on shares of Wells Fargo & Company from $94.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Wednesday, January 21st. Thirteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.03.

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.