Advisory Services Network LLC Buys 26,895 Shares of Wells Fargo & Company (NYSE:WFC)

Advisory Services Network LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 36.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 101,071 shares of the financial services provider’s stock after buying an additional 26,895 shares during the quarter. Advisory Services Network LLC’s holdings in Wells Fargo & Company were worth $5,858,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WFC. Norges Bank bought a new position in Wells Fargo & Company in the fourth quarter valued at approximately $2,623,044,000. LSV Asset Management lifted its stake in Wells Fargo & Company by 40.4% in the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock valued at $458,162,000 after buying an additional 2,677,050 shares in the last quarter. Morningstar Investment Services LLC lifted its stake in Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after buying an additional 1,951,477 shares in the last quarter. Nordea Investment Management AB lifted its stake in Wells Fargo & Company by 42.7% in the fourth quarter. Nordea Investment Management AB now owns 5,780,421 shares of the financial services provider’s stock valued at $285,668,000 after buying an additional 1,729,132 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Wells Fargo & Company by 91.5% in the fourth quarter. 1832 Asset Management L.P. now owns 3,503,169 shares of the financial services provider’s stock valued at $172,426,000 after buying an additional 1,673,917 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WFC shares. Evercore ISI lifted their price target on shares of Wells Fargo & Company from $69.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, June 25th. Jefferies Financial Group lifted their price objective on shares of Wells Fargo & Company from $62.00 to $64.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. StockNews.com upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Compass Point reiterated a “neutral” rating and issued a $64.00 price objective on shares of Wells Fargo & Company in a report on Tuesday, April 9th. Thirteen equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Wells Fargo & Company currently has a consensus rating of “Hold” and a consensus target price of $59.52.

Wells Fargo & Company Stock Down 6.8 %

WFC traded down $4.07 during trading on Friday, reaching $56.09. 21,766,039 shares of the stock were exchanged, compared to its average volume of 18,195,318. The stock has a market cap of $195.55 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The stock’s 50 day moving average price is $59.55 and its two-hundred day moving average price is $55.73. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.86 and a current ratio of 0.87.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.25 by $0.08. Wells Fargo & Company had a net margin of 15.63% and a return on equity of 12.30%. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Equities analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Friday, May 10th were issued a $0.35 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.40 annualized dividend and a dividend yield of 2.50%. Wells Fargo & Company’s dividend payout ratio is currently 29.23%.

Wells Fargo & Company Profile

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