Wells Fargo & Company $WFC Shares Acquired by Alteri Wealth LLC

Alteri Wealth LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 28.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,014 shares of the financial services provider’s stock after buying an additional 3,575 shares during the period. Alteri Wealth LLC’s holdings in Wells Fargo & Company were worth $1,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Access Investment Management LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth about $25,000. McElhenny Sheffield Capital Management LLC purchased a new position in Wells Fargo & Company during the 2nd quarter worth approximately $27,000. CBIZ Investment Advisory Services LLC increased its position in Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the period. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company in the first quarter valued at approximately $29,000. Finally, Motco lifted its stake in Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after buying an additional 326 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 15th. Evercore ISI raised their price objective on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. UBS Group dropped their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Bank of America increased their target price 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, Barclays raised their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Eleven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $83.89 on Wednesday. The firm’s fifty day simple moving average is $83.86 and its 200-day simple moving average is $80.14. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The stock has a market cap of $263.35 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $88.64.

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

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a dividend of $0.45 per share. 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 payout ratio is 29.61%.

Wells Fargo & Company Company Profile

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.