Wells Fargo & Company (NYSE:WFC) Shares Bought by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,071 shares of the financial services provider’s stock after purchasing an additional 1,493 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Wells Fargo & Company were worth $2,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Wells Fargo & Company by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 19,848,290 shares of the financial services provider’s stock worth $1,178,591,000 after acquiring an additional 831,975 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after acquiring an additional 2,349,595 shares in the last quarter. First Pacific Advisors LP lifted its stake in shares of Wells Fargo & Company by 2.1% in the second quarter. First Pacific Advisors LP now owns 5,278,666 shares of the financial services provider’s stock worth $313,500,000 after acquiring an additional 108,480 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Wells Fargo & Company by 38.1% in the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after acquiring an additional 1,415,647 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Wells Fargo & Company by 1.0% in the first quarter. Russell Investments Group Ltd. now owns 4,662,953 shares of the financial services provider’s stock worth $270,035,000 after acquiring an additional 48,419 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 4.9 %

Shares of NYSE WFC traded up $2.81 during mid-day trading on Friday, reaching $60.56. The company had a trading volume of 5,304,727 shares, compared to its average volume of 17,822,818. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $211.13 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. Wells Fargo & Company has a twelve month low of $38.58 and a twelve month high of $62.55. The stock’s 50 day moving average is $55.24 and its 200-day moving average is $57.75.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $20.37 billion during the quarter, compared to analysts’ expectations of $20.40 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 earnings per share. As a group, equities analysts anticipate that Wells Fargo & Company will post 5.12 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.40 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.64%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s payout ratio is currently 32.85%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WFC shares. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. Morgan Stanley lowered their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, September 30th. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Wolfe Research raised Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Tuesday. Finally, The Goldman Sachs Group lowered their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.65.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.