Wells Fargo & Company (NYSE:WFC) Shares Bought by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY increased its holdings in Wells Fargo & Company (NYSE:WFC) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,464 shares of the financial services provider’s stock after purchasing an additional 1,056 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in Wells Fargo & Company were worth $9,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. People s United Financial Inc. increased its position in shares of Wells Fargo & Company by 2.8% in the fourth quarter. People s United Financial Inc. now owns 19,035 shares of the financial services provider’s stock worth $913,000 after acquiring an additional 525 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Wells Fargo & Company by 7.3% in the 4th quarter. Hilltop Holdings Inc. now owns 13,274 shares of the financial services provider’s stock valued at $637,000 after purchasing an additional 903 shares during the period. LPL Financial LLC grew its position in Wells Fargo & Company by 9.3% during the fourth quarter. LPL Financial LLC now owns 1,588,600 shares of the financial services provider’s stock valued at $76,221,000 after purchasing an additional 135,553 shares in the last quarter. Freestone Capital Holdings LLC increased its stake in Wells Fargo & Company by 2.6% in the 4th quarter. Freestone Capital Holdings LLC now owns 186,186 shares of the financial services provider’s stock valued at $8,933,000 after buying an additional 4,740 shares during the period. Finally, Ulysses Management LLC increased its stake in Wells Fargo & Company by 25.0% in the 4th quarter. Ulysses Management LLC now owns 50,000 shares of the financial services provider’s stock valued at $2,399,000 after buying an additional 10,000 shares during the period. 72.23% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock traded down $1.31 during midday trading on Friday, reaching $40.21. 593,666 shares of the stock traded hands, compared to its average volume of 14,959,803. The stock’s fifty day moving average is $43.88 and its 200-day moving average is $44.46. Wells Fargo & Company has a 12 month low of $36.54 and a 12 month high of $60.30. The stock has a market cap of $152.52 billion, a P/E ratio of 9.96, a PEG ratio of 1.04 and a beta of 1.16. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.94.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.03). Wells Fargo & Company had a return on equity of 10.67% and a net margin of 22.52%. The firm had revenue of $17.03 billion for the quarter, compared to analysts’ expectations of $17.54 billion. During the same quarter in the previous year, the business earned $1.38 earnings per share. The company’s revenue for the quarter was down 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $1.20 dividend on an annualized basis and a yield of 2.98%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.25. Wells Fargo & Company’s payout ratio is currently 28.78%.

Analysts Set New Price Targets

WFC has been the subject of several recent research reports. Barclays decreased their target price on shares of Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Jefferies Financial Group reduced their price target on shares of Wells Fargo & Company from $55.00 to $47.00 in a report on Monday, July 11th. Royal Bank of Canada dropped their target price on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a research report on Friday, July 1st. Credit Suisse Group reduced their target price on shares of Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Monday, July 18th. Finally, Raymond James dropped their target price on shares of Wells Fargo & Company from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, June 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.97.

Wells Fargo & Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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