Wealthfront Advisers LLC Buys 13,515 Shares of Wells Fargo & Company $WFC

Wealthfront Advisers LLC lifted its position in Wells Fargo & Company (NYSE:WFC) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 429,018 shares of the financial services provider’s stock after purchasing an additional 13,515 shares during the quarter. Wealthfront Advisers LLC’s holdings in Wells Fargo & Company were worth $35,960,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after buying an additional 25,436 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in Wells Fargo & Company by 3.9% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 31,362 shares of the financial services provider’s stock worth $2,513,000 after acquiring an additional 1,165 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in Wells Fargo & Company by 3.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 84,754 shares of the financial services provider’s stock valued at $6,790,000 after acquiring an additional 2,704 shares in the last quarter. Cypress Capital Group acquired a new stake in Wells Fargo & Company in the 2nd quarter valued at about $205,000. Finally, Welch Group LLC grew its stake in shares of Wells Fargo & Company by 4.7% during the second quarter. Welch Group LLC now owns 22,467 shares of the financial services provider’s stock valued at $1,800,000 after purchasing an additional 1,006 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 0.8%

Shares of NYSE WFC opened at $94.73 on Tuesday. The stock has a market cap of $297.37 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.03 and a beta of 1.09. The firm has a 50 day moving average price of $91.83 and a 200 day moving average price of $85.77. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.84 and a current ratio of 0.90. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $97.76.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share 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 company had revenue of $11.97 billion for the quarter, compared to analyst estimates of $21.63 billion. During the same period last year, the business posted $1.43 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts expect that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Argus upped their price target on Wells Fargo & Company from $94.00 to $101.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. JPMorgan Chase & Co. lifted their price objective on Wells Fargo & Company from $99.00 to $99.50 and gave the stock a “neutral” rating in a research report on Monday. Barclays upped their target price on shares of Wells Fargo & Company from $94.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. Finally, CICC Research assumed coverage on shares of Wells Fargo & Company in a research note on Wednesday, January 14th. They set a “market perform” rating and a $96.00 price target for the company. Thirteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Wells Fargo & Company Profile

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.