Franklin Street Advisors Inc. NC Grows Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Franklin Street Advisors Inc. NC raised its position in shares of Wells Fargo & Company (NYSE:WFC) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,071 shares of the financial services provider’s stock after buying an additional 1,493 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Wells Fargo & Company were worth $2,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Wace LLP boosted its holdings in Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider’s stock valued at $138,493,000 after purchasing an additional 2,404,898 shares during the period. 1832 Asset Management L.P. boosted its holdings in Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock valued at $339,226,000 after purchasing an additional 2,349,595 shares during the period. Rokos Capital Management LLP boosted its holdings in Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock valued at $151,853,000 after purchasing an additional 1,536,152 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new position in Wells Fargo & Company in the first quarter valued at $84,819,000. Finally, Canada Pension Plan Investment Board boosted its holdings in Wells Fargo & Company by 38.1% in the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock valued at $297,411,000 after purchasing an additional 1,415,647 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and decreased their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Evercore ISI lifted their target price on Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wolfe Research upgraded Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target on the stock in a research report on Tuesday. Finally, BMO Capital Markets boosted their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and a consensus price target of $60.65.

Wells Fargo & Company Trading Up 4.9 %

Shares of NYSE:WFC traded up $2.81 during midday trading on Friday, reaching $60.56. The company’s stock had a trading volume of 5,304,727 shares, compared to its average volume of 17,822,818. The firm has a market cap of $211.13 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $62.55. The business has a 50 day moving average price of $55.24 and a 200 day moving average price of $57.75.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.14. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.37 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts forecast that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is currently 32.85%.

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.