Creekside Partners Invests $566,000 in Wells Fargo & Company (NYSE:WFC)

Creekside Partners acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,537 shares of the financial services provider's stock, valued at approximately $566,000.

A number of other hedge funds have also recently bought and sold shares of WFC. Marshall Wace LLP grew its holdings in shares of Wells Fargo & Company by 3,295.6% in the second quarter. Marshall Wace LLP now owns 2,331,925 shares of the financial services provider's stock valued at $138,493,000 after acquiring an additional 2,404,898 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Wells Fargo & Company by 67.1% in the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider's stock valued at $339,226,000 after purchasing an additional 2,349,595 shares during the period. Morningstar Investment Services LLC increased its position in shares of Wells Fargo & Company by 103.7% during the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider's stock valued at $189,684,000 after purchasing an additional 1,951,477 shares during the last quarter. Rokos Capital Management LLP raised its stake in shares of Wells Fargo & Company by 141.6% during the 1st quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider's stock worth $151,853,000 after purchasing an additional 1,536,152 shares during the period. Finally, Mn Services Vermogensbeheer B.V. purchased a new position in shares of Wells Fargo & Company in the 1st quarter worth about $84,819,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WFC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 price objective on the stock in a research report on Tuesday, September 3rd. BMO Capital Markets upped their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a "market perform" rating in a research note on Thursday, July 11th. Evercore ISI increased their price objective on Wells Fargo & Company from $65.00 to $68.00 and gave the company an "outperform" rating in a report on Wednesday. The Goldman Sachs Group lowered their target price on Wells Fargo & Company from $68.00 to $65.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Finally, Morgan Stanley cut their price target on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating for the company in a research note on Monday. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $60.41.

Wells Fargo & Company Price Performance

NYSE:WFC traded down $0.09 during trading hours on Wednesday, hitting $55.30. The stock had a trading volume of 8,938,106 shares, compared to its average volume of 18,076,746. The company has a 50 day simple moving average of $55.60 and a two-hundred day simple moving average of $57.79. The firm has a market capitalization of $192.79 billion, a price-to-earnings ratio of 11.28, a P/E/G ratio of 1.32 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55.

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

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.89%. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company's dividend payout ratio is 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.