Clarkston Capital Partners LLC Invests $212,000 in Wells Fargo & Company $WFC

Clarkston Capital Partners LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,650 shares of the financial services provider’s stock, valued at approximately $212,000.

Other institutional investors have also added to or reduced their stakes in the company. Access Investment Management LLC purchased a new position in Wells Fargo & Company in the second quarter worth about $25,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter worth approximately $27,000. Accent Capital Management LLC bought a new position in shares of Wells Fargo & Company during the 1st quarter valued at approximately $29,000. Finally, 1248 Management LLC purchased a new stake in Wells Fargo & Company during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on WFC shares. Evercore ISI lifted 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 note on Tuesday, September 30th. Cfra Research raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Keefe, Bruyette & Woods increased their price objective 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. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Finally, TD Cowen upped their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Trading Up 0.6%

WFC opened at $85.61 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The firm has a market cap of $268.75 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $88.64. The stock has a fifty day moving average price of $84.24 and a 200-day moving average price of $80.58.

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 (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 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s dividend payout ratio (DPR) 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.