Dynamic Technology Lab Private Ltd Takes Position in Wells Fargo & Company (WFC)
Dynamic Technology Lab Private Ltd acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the first quarter, Holdings Channel reports. The institutional investor acquired 5,650 shares of the financial services provider’s stock, valued at approximately $314,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFC. Worth Venture Partners LLC bought a new position in Wells Fargo & during the fourth quarter valued at approximately $1,030,000. Cypress Wealth Advisors LLC increased its position in Wells Fargo & by 3.9% in the fourth quarter. Cypress Wealth Advisors LLC now owns 18,016 shares of the financial services provider’s stock valued at $993,000 after buying an additional 671 shares in the last quarter. Biegel & Waller LLC bought a new position in Wells Fargo & during the fourth quarter valued at approximately $279,000. Shepherd Financial Partners LLC bought a new position in Wells Fargo & during the fourth quarter valued at approximately $1,655,000. Finally, Round Hill Asset Management bought a new position in Wells Fargo & during the fourth quarter valued at approximately $1,845,000. Hedge funds and other institutional investors own 75.85% of the company’s stock.
Wells Fargo & Company (NYSE WFC) opened at 52.54 on Tuesday. Wells Fargo & Company has a one year low of $43.55 and a one year high of $59.99. The stock has a market capitalization of $260.95 billion, a price-to-earnings ratio of 12.94 and a beta of 0.95. The company has a 50-day moving average of $54.49 and a 200-day moving average of $55.11.
Wells Fargo & (NYSE:WFC) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $22.23 billion. Wells Fargo & had a net margin of 23.25% and a return on equity of 12.65%. Wells Fargo &’s revenue was up .2% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. On average, equities analysts forecast that Wells Fargo & Company will post $4.17 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.97%. This is an increase from Wells Fargo &’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, August 2nd. Wells Fargo &’s dividend payout ratio (DPR) is 38.42%.
Wells Fargo & announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $11.50 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
TRADEMARK VIOLATION WARNING: This article was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://www.dailypolitical.com/2017/08/08/dynamic-technology-lab-private-ltd-takes-position-in-wells-fargo-company-wfc.html.
Several analysts recently issued reports on the company. Deutsche Bank AG reissued a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Zacks Investment Research raised Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Buckingham Research reissued a “neutral” rating and issued a $62.00 target price (up from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Vetr cut 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. Finally, Keefe, Bruyette & Woods reissued an “overweight” rating on shares of Wells Fargo & in a research note on Thursday, July 13th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $55.87.
In other Wells Fargo & news, insider Mary T. Mack sold 38,988 shares of the firm’s stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Loughlin sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 7 shares of the company’s stock, valued at $365.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,278 shares of company stock valued at $6,940,120. 0.22% of the stock is owned by 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.
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC).
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.