97,660 Shares in Wells Fargo & Company (NYSE:WFC) Bought by Symmetry Investments LP

Symmetry Investments LP purchased a new position in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 97,660 shares of the financial services provider’s stock, valued at approximately $5,800,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 9258 Wealth Management LLC raised its stake in Wells Fargo & Company by 4.1% during the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock worth $638,000 after buying an additional 516 shares during the period. Gryphon Financial Partners LLC raised its position 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 worth $1,246,000 after purchasing an additional 12,778 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth approximately $232,000. SageView Advisory Group LLC lifted its holdings 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 worth $930,000 after purchasing an additional 11,414 shares in the last quarter. Finally, TCW Group Inc. grew its position in Wells Fargo & Company by 22.2% in the 4th quarter. TCW Group Inc. now owns 444,813 shares of the financial services provider’s stock valued at $21,909,000 after purchasing an additional 80,713 shares during the period. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Trading Up 0.8 %

NYSE:WFC opened at $56.26 on Friday. The firm has a market capitalization of $196.14 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.27 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. 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 company has a fifty day moving average of $56.19 and a 200 day moving average of $57.88.

Wells Fargo & Company (NYSE:WFC) last posted 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 net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same period in the prior year, the business posted $1.25 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

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

Analyst Ratings Changes

Several brokerages recently issued reports on WFC. Keefe, Bruyette & Woods cut their target price 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. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. BMO Capital Markets boosted their target price 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. The Goldman Sachs Group lowered their price objective 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, Evercore ISI cut their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, September 6th. Twelve equities research 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.com, the company has a consensus rating of “Hold” and a consensus price target of $60.29.

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.