Citizens Financial Group Inc. RI Has $9.53 Million Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Citizens Financial Group Inc. RI increased its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 712.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 160,380 shares of the financial services provider's stock after purchasing an additional 140,650 shares during the period. Citizens Financial Group Inc. RI's holdings in Wells Fargo & Company were worth $9,525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Slagle Financial LLC boosted its stake in Wells Fargo & Company by 97.3% in the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider's stock worth $6,822,000 after purchasing an additional 68,356 shares during the period. Ballentine Partners LLC boosted its stake in shares of Wells Fargo & Company by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider's stock valued at $2,074,000 after buying an additional 1,835 shares during the period. Wedmont Private Capital boosted its stake in shares of Wells Fargo & Company by 16.4% during the 1st quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider's stock valued at $8,805,000 after buying an additional 21,496 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Wells Fargo & Company by 28.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider's stock valued at $27,441,000 after buying an additional 106,260 shares during the period. Finally, Evoke Wealth LLC boosted its stake in shares of Wells Fargo & Company by 34.3% during the 4th quarter. Evoke Wealth LLC now owns 7,224 shares of the financial services provider's stock valued at $356,000 after buying an additional 1,846 shares during the period. Institutional investors and hedge funds own 75.90% of the company's stock.

Analysts Set New Price Targets

WFC has been the subject of a number of research reports. Jefferies Financial Group lowered shares of Wells Fargo & Company to a "hold" rating and decreased their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, July 30th. BMO Capital Markets raised their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a "market perform" rating in a report on Thursday, July 11th. Evercore ISI cut their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, September 6th. Finally, The Goldman Sachs Group cut their price target on shares of Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $60.29.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock traded up $1.01 on Monday, reaching $53.79. 17,845,336 shares of the stock were exchanged, compared to its average volume of 18,009,686. The stock has a market cap of $187.53 billion, a PE ratio of 11.04, a PEG ratio of 1.27 and a beta of 1.16. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm has a fifty day moving average price of $56.60 and a two-hundred day moving average price of $57.93.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. Sell-side analysts anticipate that Wells Fargo & Company will post 5.14 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. Stockholders of record on Friday, August 9th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.97%. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.35. Wells Fargo & Company's dividend payout ratio is currently 32.85%.

About Wells Fargo & Company

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.