Wells Fargo & Company (NYSE:WFC) Stake Raised by Edmond DE Rothschild Holding S.A.
Edmond DE Rothschild Holding S.A. boosted its position in Wells Fargo & Company (NYSE:WFC) by 14.3% during the first quarter, Holdings Channel reports. The fund owned 335,579 shares of the financial services provider’s stock after buying an additional 41,990 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Wells Fargo & were worth $18,678,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of WFC. Advantage Investment Management LLC purchased a new stake in shares of Wells Fargo & during the fourth quarter worth about $1,098,000. Pacific Center for Financial Services purchased a new stake in shares of Wells Fargo & during the fourth quarter worth about $251,000. IFM Investors Pty Ltd purchased a new stake in shares of Wells Fargo & during the fourth quarter worth about $3,368,000. Heritage Way Advisors LLC purchased a new stake in shares of Wells Fargo & during the fourth quarter worth about $1,941,000. Finally, LeJeune Puetz Investment Counsel LLC purchased a new stake in shares of Wells Fargo & during the fourth quarter worth about $470,000. 75.85% of the stock is owned by institutional investors and hedge funds.
Shares of Wells Fargo & Company (NYSE:WFC) traded down 0.298% during trading on Friday, hitting $51.795. 3,467,608 shares of the stock were exchanged. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $59.99. The stock has a market cap of $257.11 billion, a PE ratio of 12.757 and a beta of 0.95. The firm has a 50 day moving average of $54.27 and a 200-day moving average of $55.02.
Wells Fargo & (NYSE:WFC) last released its quarterly earnings data on Friday, July 14th. The financial services provider reported $1.07 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.23 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post $4.17 earnings per share for the current fiscal year.
Wells Fargo & announced that its board has authorized a share buyback program on Wednesday, June 28th that allows the company to repurchase $11.50 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed 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 3.00%. Wells Fargo &’s dividend payout ratio is 38.42%.
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A number of research analysts have weighed in on WFC shares. Deutsche Bank AG reiterated a “buy” rating on shares of Wells Fargo & in a research note on Monday, July 3rd. Zacks Investment Research upgraded shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Monday, July 10th. Buckingham Research reiterated 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 shares of 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 reiterated 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 given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $55.87.
In related news, insider Hope A. Hardison sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $52.07, for a total value of $1,041,400.00. Following the completion of the sale, the insider now directly owns 109 shares of the company’s stock, valued at $5,675.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mary T. Mack sold 38,988 shares of the company’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $52.58, for a total transaction of $2,049,989.04. The disclosure for this sale can be found here. Over the last ninety 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.
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