7,443 Shares in Wells Fargo & Company $WFC Purchased by Weaver Capital Management LLC

Weaver Capital Management LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,443 shares of the financial services provider’s stock, valued at approximately $624,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Embree Financial Group increased its stake in Wells Fargo & Company by 3.9% in the 3rd quarter. Embree Financial Group now owns 3,330 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 126 shares in the last quarter. Trust Co. of Vermont grew its holdings in Wells Fargo & Company by 1.1% in the third quarter. Trust Co. of Vermont now owns 12,098 shares of the financial services provider’s stock valued at $1,014,000 after purchasing an additional 126 shares during the last quarter. Traphagen Investment Advisors LLC grew its holdings in Wells Fargo & Company by 2.0% in the third quarter. Traphagen Investment Advisors LLC now owns 6,346 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 127 shares during the last quarter. Wealth Management Partners LLC increased its position in shares of Wells Fargo & Company by 3.5% in the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after buying an additional 128 shares in the last quarter. Finally, Verum Partners LLC raised its stake in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after buying an additional 128 shares during the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Stock Down 0.8%

Shares of NYSE WFC opened at $94.53 on Tuesday. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $95.85. The firm’s 50 day moving average price is $88.10 and its 200 day moving average price is $83.24. The firm has a market cap of $296.72 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 0.99 and a beta of 1.11. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the previous year, the firm posted $1.42 EPS. Wells Fargo & Company’s revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WFC shares. Keefe, Bruyette & Woods increased their price objective on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the company a “market perform” rating in a research note on Wednesday, December 17th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. TD Cowen raised their price objective on shares of Wells Fargo & Company from $90.00 to $93.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. UBS Group cut their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 7th. Finally, Evercore ISI upped their target price on Wells Fargo & Company from $101.00 to $107.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.04.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.