Czech National Bank Has $39.17 Million Stock Position in Wells Fargo & Company (NYSE:WFC)

Czech National Bank raised its position in Wells Fargo & Company (NYSE:WFC - Free Report) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 693,384 shares of the financial services provider's stock after buying an additional 28,976 shares during the quarter. Czech National Bank's holdings in Wells Fargo & Company were worth $39,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. Mattson Financial Services LLC bought a new stake in shares of Wells Fargo & Company during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company in the second quarter worth about $26,000. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 220 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $32,000. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wells Fargo & Company Trading Up 3.6 %

Shares of NYSE:WFC traded up $1.98 during midday trading on Friday, reaching $56.96. The company's stock had a trading volume of 14,582,228 shares, compared to its average volume of 18,007,127. Wells Fargo & Company has a fifty-two week low of $38.58 and a fifty-two week high of $62.55. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a 50 day moving average price of $55.43 and a two-hundred day moving average price of $57.76. The firm has a market capitalization of $198.58 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.32 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the previous year, the company posted $1.25 earnings per share. The firm's revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts forecast 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. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.35. Wells Fargo & Company's payout ratio is presently 32.85%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a "hold" rating to a "buy" rating and set a $65.00 target price on the stock in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods reduced their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a "market perform" rating on the stock in a research report on Monday, July 15th. Morgan Stanley dropped their target price on Wells Fargo & Company from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Monday. BMO Capital Markets boosted their price target 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. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a "hold" rating and lowered their price objective for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Wells Fargo & Company presently has a consensus rating of "Hold" and an average price target of $60.41.

Wells Fargo & Company 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.