Jones Collombin Investment Counsel Inc increased its position in Wells Fargo & Company (NYSE:WFC) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,830 shares of the financial services provider’s stock after buying an additional 2,915 shares during the period. Wells Fargo & accounts for approximately 2.6% of Jones Collombin Investment Counsel Inc’s investment portfolio, making the stock its 18th biggest holding. Jones Collombin Investment Counsel Inc’s holdings in Wells Fargo & were worth $7,416,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of WFC. Harris Associates L P grew its position in Wells Fargo & by 1.2% in the first quarter. Harris Associates L P now owns 23,796,125 shares of the financial services provider’s stock worth $1,324,492,000 after acquiring an additional 286,710 shares in the last quarter. Boston Partners grew its position in Wells Fargo & by 140.1% in the second quarter. Boston Partners now owns 19,088,621 shares of the financial services provider’s stock worth $1,057,700,000 after acquiring an additional 11,139,780 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Wells Fargo & by 4.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 14,919,302 shares of the financial services provider’s stock worth $826,679,000 after acquiring an additional 607,497 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Wells Fargo & by 0.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 13,415,854 shares of the financial services provider’s stock valued at $746,726,000 after buying an additional 93,236 shares during the period. Finally, Longview Partners Guernsey LTD boosted its position in Wells Fargo & by 5.3% during the second quarter. Longview Partners Guernsey LTD now owns 12,544,667 shares of the financial services provider’s stock valued at $695,100,000 after buying an additional 636,994 shares during the period. Institutional investors own 75.04% of the company’s stock.
Wells Fargo & Company (NYSE WFC) traded down $0.19 during trading hours on Friday, hitting $53.81. 13,671,700 shares of the stock were exchanged, compared to its average volume of 18,108,488. Wells Fargo & Company has a 1 year low of $49.27 and a 1 year high of $59.99. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $265,910.09, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.30 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $1.04 by ($0.20). Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. During the same quarter in the previous year, the company earned $1.03 EPS. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. sell-side analysts forecast that Wells Fargo & Company will post 3.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.90%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.
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Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, August 16th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, October 11th. Vetr raised shares of Wells Fargo & from a “sell” rating to a “hold” rating and set a $54.49 price objective for the company in a research note on Tuesday, October 24th. Vertical Group started coverage on shares of Wells Fargo & in a research note on Friday, October 6th. They issued a “sell” rating for the company. Finally, Credit Suisse Group restated a “hold” rating and set a $57.00 price target on shares of Wells Fargo & in a research note on Tuesday, October 10th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.20.
Wells Fargo & 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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