Well Done LLC continued to hold its stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,157 shares of the financial services provider’s stock at the end of the second quarter. Well Done LLC’s holdings in Wells Fargo & were worth $563,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Alexandria Capital LLC raised its stake in Wells Fargo & by 0.3% in the first quarter. Alexandria Capital LLC now owns 1,826 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares during the last quarter. Brick & Kyle Associates raised its stake in Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after buying an additional 162 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Wells Fargo & during the first quarter worth about $124,000. Gradient Investments LLC raised its stake in Wells Fargo & by 58.6% in the first quarter. Gradient Investments LLC now owns 2,494 shares of the financial services provider’s stock worth $139,000 after buying an additional 921 shares during the last quarter. Finally, America First Investment Advisors LLC raised its stake in Wells Fargo & by 8.3% in the second quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock worth $145,000 after buying an additional 200 shares during the last quarter. Institutional investors own 76.05% of the company’s stock.
Wells Fargo & Company (NYSE WFC) traded up 0.04% during mid-day trading on Monday, hitting $51.70. The company’s stock had a trading volume of 4,780,716 shares. The firm’s 50-day moving average is $54.06 and its 200-day moving average is $54.86. Wells Fargo & Company has a 12-month low of $43.55 and a 12-month high of $59.99. The company has a market cap of $256.64 billion, a P/E ratio of 12.73 and a beta of 0.95. Wells Fargo & also was the target of unusually large options trading activity on Friday. Traders purchased 16,952 call options on the stock. This is an increase of 100% compared to the typical daily volume of 8,468 call options.
Wells Fargo & (NYSE:WFC) last posted its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.05. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. The business had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.23 billion. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Wells Fargo & Company will post $4.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This is a positive change from Wells Fargo &’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.02%. Wells Fargo &’s dividend payout ratio (DPR) is currently 38.42%.
Wells Fargo & declared that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $11.50 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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A number of equities analysts have weighed in on the company. Evercore ISI decreased their target price on Wells Fargo & from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, May 12th. Jefferies Group LLC restated a “hold” rating and issued a $62.00 target price on shares of Wells Fargo & in a research note on Monday, May 8th. Vetr lowered Wells Fargo & from a “buy” rating to a “hold” rating and set a $57.21 target price on the stock. in a research note on Thursday, May 4th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $62.00 target price on shares of Wells Fargo & in a research note on Friday, June 23rd. Finally, BidaskClub upgraded Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Wells Fargo & currently has a consensus rating of “Hold” and an average price target of $55.87.
In related news, insider Mary T. Mack sold 38,988 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $52.58, for a total value of $2,049,989.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael J. Loughlin sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $52.16, for a total transaction of $1,043,200.00. Following the completion of the transaction, the insider now directly owns 7 shares in the company, valued at $365.12. The disclosure for this sale can be found here. Insiders sold a total of 131,278 shares of company stock worth $6,940,120 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.
Wells Fargo & Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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