72,875 Shares in Wells Fargo & Company (NYSE:WFC) Bought by DRW Securities LLC

DRW Securities LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 72,875 shares of the financial services provider's stock, valued at approximately $4,326,000.

Several other hedge funds have also recently made changes to their positions in the business. 9258 Wealth Management LLC boosted its stake in Wells Fargo & Company by 4.1% during the fourth quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider's stock worth $638,000 after acquiring an additional 516 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of Wells Fargo & Company by 93.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider's stock valued at $1,246,000 after purchasing an additional 12,778 shares during the period. CreativeOne Wealth LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $232,000. SageView Advisory Group LLC grew its stake in shares of Wells Fargo & Company by 169.1% in the 4th quarter. SageView Advisory Group LLC now owns 18,164 shares of the financial services provider's stock valued at $930,000 after buying an additional 11,414 shares during the period. Finally, TBH Global Asset Management LLC bought a new stake in Wells Fargo & Company in the 4th quarter valued at about $264,000. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

WFC stock opened at $56.29 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The firm has a market cap of $196.24 billion, a PE ratio of 11.56, a P/E/G ratio of 1.27 and a beta of 1.16. The business has a 50 day moving average of $56.19 and a 200-day moving average of $57.89. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last announced its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business's revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $1.25 EPS. As a group, sell-side analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company's payout ratio is presently 32.85%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WFC. Morgan Stanley increased their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, July 30th. BMO Capital Markets increased their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a "market perform" rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price target for the company in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating on the stock in a research note on Monday, July 15th. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a "hold" rating and reduced their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $60.29.

Wells Fargo & Company Profile

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.

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