Edmond DE Rothschild Holding S.A. Takes Position in Wells Fargo & Company $WFC

Edmond DE Rothschild Holding S.A. purchased a new position in Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 761,010 shares of the financial services provider’s stock, valued at approximately $62,890,000. Wells Fargo & Company makes up approximately 0.8% of Edmond DE Rothschild Holding S.A.’s portfolio, making the stock its 29th largest holding.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Wells Fargo & Company by 62.3% in the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares during the last quarter. Jump Financial LLC lifted its position in shares of Wells Fargo & Company by 12.9% during the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock valued at $1,835,000 after buying an additional 2,615 shares during the last quarter. Main Street Financial Solutions LLC boosted its holdings in shares of Wells Fargo & Company by 111.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 7,368 shares in the last quarter. Vivaldi Capital Management LP boosted its holdings in shares of Wells Fargo & Company by 5.4% in the 2nd quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after buying an additional 165 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Wells Fargo & Company by 51.2% in the 2nd quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock worth $2,044,000 after buying an additional 8,714 shares during the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

NYSE WFC opened at $83.83 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90. The stock’s fifty day moving average price is $86.08 and its 200 day moving average price is $82.91. Wells Fargo & Company has a 1 year low of $72.78 and a 1 year high of $97.76. The company has a market cap of $253.50 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.91 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a $0.50 dividend. The ex-dividend date is Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.07%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group reduced their price objective on shares of Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Bank of America lifted their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Robert W. Baird raised their price objective on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Phillip Securities raised Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley upped their target price on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.61.

About Wells Fargo & Company

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.