BTC Capital Management Inc. Grows Stock Holdings in Wells Fargo & Company $WFC

BTC Capital Management Inc. lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 88.3% in the third quarter, HoldingsChannel.com reports. The firm owned 290,907 shares of the financial services provider’s stock after purchasing an additional 136,384 shares during the period. Wells Fargo & Company comprises 1.7% of BTC Capital Management Inc.’s investment portfolio, making the stock its 15th largest position. BTC Capital Management Inc.’s holdings in Wells Fargo & Company were worth $24,384,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WFC. Access Investment Management LLC purchased a new stake in Wells Fargo & Company in the 2nd quarter worth approximately $25,000. Marquette Asset Management LLC increased its stake in shares of Wells Fargo & Company by 472.4% during the third quarter. Marquette Asset Management LLC now owns 332 shares of the financial services provider’s stock valued at $28,000 after buying an additional 274 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in shares of Wells Fargo & Company during the third quarter valued at approximately $30,000. Kilter Group LLC purchased a new stake in Wells Fargo & Company in the second quarter worth $31,000. Finally, Aventus Investment Advisors Inc. bought a new stake in Wells Fargo & Company in the third quarter valued at $37,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on WFC. Freedom Capital cut shares of Wells Fargo & Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 15th. TD Cowen reduced their price target on shares of Wells Fargo & Company from $102.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, January 15th. Keefe, Bruyette & Woods raised their price objective on shares of Wells Fargo & Company from $92.00 to $101.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Finally, Robert W. Baird upgraded Wells Fargo & Company from an “underperform” rating to a “neutral” rating and set a $85.00 target price on the stock in a report on Friday. Thirteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.03.

Wells Fargo & Company Trading Up 0.8%

Shares of NYSE WFC opened at $86.94 on Friday. Wells Fargo & Company has a 1 year low of $58.42 and a 1 year high of $97.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.90 and a quick ratio of 0.84. The firm has a 50-day moving average of $91.80 and a 200 day moving average of $85.88. The stock has a market cap of $272.92 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.95 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Wednesday, January 14th. The financial services provider reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.10. Wells Fargo & Company had a net margin of 17.27% and a return on equity of 12.90%. The business had revenue of $11.97 billion during the quarter, compared to the consensus estimate of $21.63 billion. During the same quarter last year, the firm earned $1.43 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Friday, February 6th. Wells Fargo & Company’s dividend payout ratio (DPR) is 28.71%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.