Wells Fargo & Company $WFC Shares Purchased by Kestra Investment Management LLC

Kestra Investment Management LLC lifted its stake in Wells Fargo & Company (NYSE:WFC) by 132.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,545 shares of the financial services provider’s stock after buying an additional 9,418 shares during the period. Kestra Investment Management LLC’s holdings in Wells Fargo & Company were worth $1,326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Access Investment Management LLC acquired a new stake in shares of Wells Fargo & Company in the 2nd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC lifted its stake in Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $27,000. 1248 Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at approximately $31,000. Finally, Kilter Group LLC purchased a new position in shares of Wells Fargo & Company during the second quarter worth approximately $31,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on WFC. Keefe, Bruyette & Woods lifted their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Citigroup raised their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Barclays boosted their price target on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Wall Street Zen raised Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Saturday, October 4th. Finally, TD Cowen lifted their target price on Wells Fargo & Company from $90.00 to $93.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.04.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $92.76 on Monday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $93.42. The company has a market capitalization of $291.18 billion, a P/E ratio of 15.26, a PEG ratio of 0.96 and a beta of 1.11. The business has a 50 day moving average price of $85.51 and a 200 day moving average price of $81.80. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.18. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same quarter last year, the business posted $1.42 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.61%.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.