Callan Family Office LLC Buys New Position in Wells Fargo & Company $WFC

Callan Family Office LLC bought a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, Holdings Channel.com reports. The fund bought 227,104 shares of the financial services provider’s stock, valued at approximately $18,768,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $4,512,563,000. Capital Research Global Investors grew its position in Wells Fargo & Company by 4.9% in the fourth quarter. Capital Research Global Investors now owns 37,421,387 shares of the financial services provider’s stock worth $3,487,687,000 after acquiring an additional 1,760,484 shares in the last quarter. Legal & General Group Plc increased its stake in Wells Fargo & Company by 0.9% in the fourth quarter. Legal & General Group Plc now owns 21,197,423 shares of the financial services provider’s stock valued at $1,975,600,000 after acquiring an additional 188,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Wells Fargo & Company by 13.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,625,070 shares of the financial services provider’s stock valued at $1,922,257,000 after acquiring an additional 2,369,260 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Wells Fargo & Company during the second quarter valued at about $1,364,923,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 0.1%

NYSE WFC opened at $84.82 on Wednesday. The firm has a market cap of $256.51 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.92 and a beta of 0.92. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The stock has a 50-day moving average of $86.11 and a 200-day moving average of $82.79. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

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

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a $0.50 dividend. 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%. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.07%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WFC shares. Morgan Stanley upped their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Raymond James Financial reissued a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. UBS Group dropped their target price on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods reduced their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 15th. Finally, 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 research note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & 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.