AR Asset Management Inc. Has $294,000 Holdings in Wells Fargo & Company (WFC)
AR Asset Management Inc. maintained its stake in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,300 shares of the financial services provider’s stock at the end of the 2nd quarter. AR Asset Management Inc.’s holdings in Wells Fargo & were worth $294,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of WFC. Delphi Private Advisors LLC increased its position in shares of Wells Fargo & by 262.8% during the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,461 shares in the last quarter. Brick & Kyle Associates increased its position in shares of Wells Fargo & by 9.5% during the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 162 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in shares of Wells Fargo & during the second quarter worth $104,000. Clear Investment Research LLC bought a new stake in shares of Wells Fargo & during the second quarter worth $121,000. Finally, Signature Estate & Investment Advisors LLC bought a new stake in shares of Wells Fargo & during the first quarter worth $124,000. 75.86% of the stock is owned by institutional investors.
A number of research firms recently weighed in on WFC. BidaskClub downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Berenberg Bank downgraded shares of Wells Fargo & from a “hold” rating to a “sell” rating and raised their target price for the company from $35.00 to $45.00 in a research report on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $60.00 target price on shares of Wells Fargo & in a research report on Friday, July 28th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Wells Fargo & in a research report on Sunday, July 30th. Finally, BMO Capital Markets raised shares of Wells Fargo & from an “underperform” rating to a “market perform” rating and decreased their target price for the company from $50.00 to $47.00 in a research report on Monday, July 31st. They noted that the move was a valuation call. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $57.20.
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Shares of Wells Fargo & Company (NYSE:WFC) opened at $54.04 on Wednesday. Wells Fargo & Company has a 12 month low of $49.27 and a 12 month high of $59.99. The company has a quick ratio of 0.89, a current ratio of 0.91 and a debt-to-equity ratio of 1.32. The firm has a market cap of $266,300.00, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.29 and a beta of 0.97.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.20). Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. During the same quarter last year, the firm earned $1.03 EPS. Wells Fargo &’s revenue for the quarter was down 1.8% compared to the same quarter last year. equities analysts expect that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 3rd will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.
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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