Quantbot Technologies LP Acquires Shares of 210,904 Wells Fargo & Company $WFC

Quantbot Technologies LP acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 210,904 shares of the financial services provider’s stock, valued at approximately $17,429,000. Wells Fargo & Company accounts for 0.7% of Quantbot Technologies LP’s holdings, making the stock its 3rd largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of WFC. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the fourth quarter valued at approximately $4,512,563,000. Bank of New York Mellon Corp acquired a new stake in Wells Fargo & Company during the second quarter worth approximately $1,364,923,000. Deutsche Bank AG acquired a new stake in Wells Fargo & Company during the second quarter worth approximately $859,431,000. Pzena Investment Management LLC bought a new position in Wells Fargo & Company during the 2nd quarter worth $729,502,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Wells Fargo & Company during the 2nd quarter worth $620,861,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WFC shares. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday, July 15th. Robert W. Baird raised their price target 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 note on Thursday, May 7th. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Bank of America increased their price objective 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 equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Trading Up 0.1%

Shares of WFC stock opened at $84.82 on Wednesday. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The stock’s fifty day moving average price is $86.11 and its two-hundred day moving average price is $82.79. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $256.51 billion, a PE ratio of 12.33, a P/E/G ratio of 0.92 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last posted 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%.Wells Fargo & Company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 EPS. Equities analysts predict that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business 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 represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 29.07%.

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.