Arrow Capital Pty Ltd Takes $4.40 Million Position in Wells Fargo & Company $WFC

Arrow Capital Pty Ltd bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 54,954 shares of the financial services provider’s stock, valued at approximately $4,403,000. Wells Fargo & Company accounts for 3.3% of Arrow Capital Pty Ltd’s holdings, making the stock its 16th largest holding.

A number of other hedge funds have also recently modified their holdings of WFC. Wealth Management Partners LLC grew its position in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock worth $313,000 after buying an additional 128 shares in the last quarter. Verum Partners LLC lifted its stake in Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after acquiring an additional 128 shares during the period. Motive Wealth Advisors grew its holdings in Wells Fargo & Company by 3.7% during the 2nd quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after acquiring an additional 129 shares in the last quarter. Exencial Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 0.7% during the 2nd quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock worth $1,443,000 after acquiring an additional 131 shares in the last quarter. Finally, Yukon Wealth Management Inc. increased its position in Wells Fargo & Company by 4.3% during the 2nd quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock valued at $255,000 after purchasing an additional 132 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $88.85 on Wednesday. The firm has a fifty day moving average price of $84.83 and a 200 day moving average price of $81.41. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $91.11. The stock has a market cap of $278.90 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.93 and a beta of 1.11. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

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

Wells Fargo & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.0%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.61%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. TD Cowen lifted their price target 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. Bank of America increased their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Citigroup lifted their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Finally, Dbs Bank upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.04.

Wells Fargo & 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.