ABN Amro Investment Solutions Acquires Shares of 23,730 Wells Fargo & Company $WFC

ABN Amro Investment Solutions bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,730 shares of the financial services provider’s stock, valued at approximately $1,901,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFC. Brighton Jones LLC lifted its position in shares of Wells Fargo & Company by 62.3% during the 4th 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 during the period. Bailard Inc. lifted its position in Wells Fargo & Company by 43.6% during the first quarter. Bailard Inc. now owns 13,237 shares of the financial services provider’s stock worth $950,000 after purchasing an additional 4,021 shares during the period. Kingsview Wealth Management LLC lifted its position in Wells Fargo & Company by 2.9% during the first quarter. Kingsview Wealth Management LLC now owns 79,315 shares of the financial services provider’s stock worth $5,694,000 after purchasing an additional 2,270 shares during the period. Forte Capital LLC ADV grew its stake in Wells Fargo & Company by 10.9% during the first quarter. Forte Capital LLC ADV now owns 5,074 shares of the financial services provider’s stock worth $364,000 after buying an additional 499 shares in the last quarter. Finally, Nwam LLC increased its holdings in Wells Fargo & Company by 1.6% in the 1st quarter. Nwam LLC now owns 8,806 shares of the financial services provider’s stock valued at $632,000 after buying an additional 142 shares during the period. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Up 0.3%

Shares of WFC opened at $84.98 on Friday. 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 52 week low of $58.42 and a 52 week high of $88.64. The stock has a market capitalization of $266.77 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.18 and a beta of 1.22. The stock has a fifty day moving average of $83.71 and a 200-day moving average of $79.86.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.18. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.Wells Fargo & Company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.42 EPS. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WFC. Bank of America upped their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Barclays boosted their price objective on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. TD Cowen raised their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Morgan Stanley upped their price objective on Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.57.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.