WP Advisors LLC Acquires 2,202 Shares of Wells Fargo & Co (WFC)

WP Advisors LLC raised its holdings in Wells Fargo & Co (NYSE:WFC) by 6.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 35,744 shares of the financial services provider’s stock after acquiring an additional 2,202 shares during the quarter. Wells Fargo & Co comprises 1.9% of WP Advisors LLC’s holdings, making the stock its 16th biggest holding. WP Advisors LLC’s holdings in Wells Fargo & Co were worth $1,727,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Federated Investors Inc. PA raised its holdings in shares of Wells Fargo & Co by 140.8% in the 3rd quarter. Federated Investors Inc. PA now owns 550,093 shares of the financial services provider’s stock valued at $28,913,000 after buying an additional 321,605 shares during the period. Cerebellum GP LLC increased its holdings in Wells Fargo & Co by 38.0% during the 4th quarter. Cerebellum GP LLC now owns 4,694 shares of the financial services provider’s stock worth $216,000 after purchasing an additional 1,292 shares during the period. Cullinan Associates Inc. increased its holdings in Wells Fargo & Co by 6.4% during the 4th quarter. Cullinan Associates Inc. now owns 13,368 shares of the financial services provider’s stock worth $616,000 after purchasing an additional 800 shares during the period. Waverton Investment Management Ltd increased its holdings in Wells Fargo & Co by 3.6% during the 4th quarter. Waverton Investment Management Ltd now owns 27,826 shares of the financial services provider’s stock worth $1,282,000 after purchasing an additional 966 shares during the period. Finally, Cozad Asset Management Inc. purchased a new stake in Wells Fargo & Co during the 4th quarter worth about $274,000. Hedge funds and other institutional investors own 72.13% of the company’s stock.

WFC has been the topic of several recent research reports. Zacks Investment Research downgraded Wells Fargo & Co from a “hold” rating to a “sell” rating in a report on Saturday, January 12th. Bank of America downgraded Wells Fargo & Co from a “buy” rating to a “neutral” rating in a report on Monday, April 15th. ValuEngine upgraded Wells Fargo & Co from a “sell” rating to a “hold” rating in a report on Tuesday, March 19th. Raymond James restated a “hold” rating on shares of Wells Fargo & Co in a report on Friday, April 12th. Finally, Buckingham Research downgraded Wells Fargo & Co from a “buy” rating to a “neutral” rating and cut their price target for the stock from $65.00 to $53.00 in a report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. Wells Fargo & Co presently has an average rating of “Hold” and an average target price of $56.35.

NYSE:WFC opened at $47.15 on Friday. The stock has a market cap of $227.99 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.09. Wells Fargo & Co has a 1 year low of $43.02 and a 1 year high of $59.53. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 1.35.

Wells Fargo & Co (NYSE:WFC) last released its quarterly earnings data on Friday, April 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The business had revenue of $21.61 billion during the quarter, compared to analysts’ expectations of $20.89 billion. Wells Fargo & Co had a return on equity of 13.37% and a net margin of 22.59%. During the same period in the prior year, the firm posted $0.96 EPS. As a group, research analysts forecast that Wells Fargo & Co will post 4.75 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.80 annualized dividend and a dividend yield of 3.82%. Wells Fargo & Co’s dividend payout ratio is currently 41.10%.

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Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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