Headlands Technologies LLC Takes Position in Wells Fargo & Company (NYSE:WFC)

Headlands Technologies LLC purchased a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 163,552 shares of the financial services provider’s stock, valued at approximately $9,713,000. Wells Fargo & Company accounts for about 1.0% of Headlands Technologies LLC’s portfolio, making the stock its 16th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Core Wealth Advisors Inc. purchased a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $32,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $34,000. Beaird Harris Wealth Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth $34,000. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.3 %

NYSE WFC traded up $1.26 during trading hours on Tuesday, hitting $55.85. The company had a trading volume of 3,176,489 shares, compared to its average volume of 17,711,012. The firm’s 50 day moving average is $57.19 and its 200 day moving average is $57.97. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company has a market capitalization of $190.10 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period in the previous year, the company posted $1.25 EPS. Wells Fargo & Company’s revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts anticipate that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Analyst Ratings Changes

Several brokerages recently weighed in on WFC. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and reduced their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Morgan Stanley raised their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Evercore ISI cut their price target on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday. Finally, Keefe, Bruyette & Woods decreased their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.29.

Wells Fargo & Company 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.