Verde Servicos Internacionais S.A. acquired a new stake in shares of Wells Fargo (NYSE:WFC) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 182,283 shares of the financial services provider’s stock, valued at approximately $11,059,000. Wells Fargo accounts for 2.0% of Verde Servicos Internacionais S.A.’s portfolio, making the stock its 10th biggest holding.
Other institutional investors and hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Wells Fargo by 0.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,912 shares of the financial services provider’s stock worth $106,000 after buying an additional 6 shares during the period. Jackson Grant Investment Advisers Inc. lifted its holdings in shares of Wells Fargo by 0.5% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 4,954 shares of the financial services provider’s stock worth $274,000 after buying an additional 26 shares during the period. Financial Advisory Group lifted its holdings in shares of Wells Fargo by 0.7% in the 2nd quarter. Financial Advisory Group now owns 5,029 shares of the financial services provider’s stock worth $279,000 after buying an additional 35 shares during the period. Highland Private Wealth Management lifted its holdings in shares of Wells Fargo by 1.0% in the 2nd quarter. Highland Private Wealth Management now owns 4,481 shares of the financial services provider’s stock worth $248,000 after buying an additional 43 shares during the period. Finally, Northwest Quadrant Wealth Management LLC lifted its holdings in shares of Wells Fargo by 0.7% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 9,777 shares of the financial services provider’s stock worth $515,000 after buying an additional 64 shares during the period. Institutional investors own 77.39% of the company’s stock.
Wells Fargo (NYSE:WFC) opened at $55.90 on Friday. Wells Fargo has a 1 year low of $49.27 and a 1 year high of $66.31. The stock has a market capitalization of $281,030.00, a PE ratio of 15.48, a P/E/G ratio of 1.48 and a beta of 1.08. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.88 and a current ratio of 0.90.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Friday, February 2nd were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, February 1st. Wells Fargo’s dividend payout ratio is currently 43.21%.
Wells Fargo declared that its Board of Directors has initiated a stock buyback plan on Tuesday, January 23rd that allows the company to buyback 350,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Several brokerages have weighed in on WFC. Bank of America lowered their target price on Wells Fargo from $70.00 to $69.00 and set a “buy” rating for the company in a report on Monday, February 5th. Morgan Stanley cut Wells Fargo from an “equal weight” rating to an “underweight” rating in a report on Monday, February 5th. JPMorgan Chase & Co. cut Wells Fargo from a “neutral” rating to an “underweight” rating in a report on Monday, February 5th. Vining Sparks reiterated a “buy” rating and issued a $75.00 target price on shares of Wells Fargo in a report on Monday, January 8th. Finally, UBS set a $63.00 price objective on Wells Fargo and gave the stock a “hold” rating in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $62.90.
In other Wells Fargo news, Director Ronald Sargent bought 9,000 shares of Wells Fargo stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average cost of $55.98 per share, with a total value of $503,820.00. Following the transaction, the director now directly owns 81 shares of the company’s stock, valued at approximately $4,534.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.
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About Wells Fargo
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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