Profund Advisors LLC Raises Stake in Wells Fargo & Company $WFC

Profund Advisors LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 15.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,673 shares of the financial services provider’s stock after purchasing an additional 5,751 shares during the quarter. Profund Advisors LLC’s holdings in Wells Fargo & Company were worth $3,661,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hidden Cove Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 2.0% in the third quarter. Hidden Cove Wealth Management LLC now owns 5,948 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 119 shares in the last quarter. Zullo Investment Group Inc. grew its position in shares of Wells Fargo & Company by 2.0% during the third quarter. Zullo Investment Group Inc. now owns 6,340 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 122 shares in the last quarter. Embree Financial Group raised its stake in Wells Fargo & Company by 3.9% during the 3rd quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 126 shares during the period. Trust Co. of Vermont lifted its holdings in Wells Fargo & Company by 1.1% in the 3rd quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock worth $1,014,000 after purchasing an additional 126 shares in the last quarter. Finally, Traphagen Investment Advisors LLC boosted its stake in Wells Fargo & Company by 2.0% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 6,346 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 127 shares during the period. 75.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFC has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Wells Fargo & Company from $99.00 to $99.50 and gave the company a “neutral” rating in a research report on Monday. Morgan Stanley boosted their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. 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. Evercore reduced their target price on Wells Fargo & Company from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, January 15th. Finally, UBS Group reissued a “buy” rating and set a $113.00 price target on shares of Wells Fargo & Company in a research note on Wednesday, February 4th. Thirteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has an average rating of “Moderate Buy” and a consensus price target of $97.29.

Wells Fargo & Company Stock Up 0.8%

NYSE WFC opened at $94.73 on Tuesday. 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 has a 52 week low of $58.42 and a 52 week high of $97.76. The firm has a market capitalization of $297.37 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 1.03 and a beta of 1.09. The company has a fifty day moving average of $91.83 and a two-hundred day moving average of $85.77.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio is 28.71%.

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.