Wells Fargo & Company (NYSE:WFC) Shares Acquired by 3Chopt Investment Partners LLC

3Chopt Investment Partners LLC boosted its position in Wells Fargo & Company (NYSE:WFC) by 2.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 45,991 shares of the financial services provider’s stock after acquiring an additional 1,065 shares during the period. 3Chopt Investment Partners LLC’s holdings in Wells Fargo & Company were worth $2,731,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company in the fourth quarter valued at about $25,000. Valued Wealth Advisors LLC increased its holdings in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $32,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at $34,000. Finally, J.Safra Asset Management Corp lifted its position in shares of Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after buying an additional 648 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WFC. Evercore ISI reduced their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised 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 report on Tuesday, September 3rd. Keefe, Bruyette & Woods cut their price target on 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. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Finally, BMO Capital Markets upped their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Twelve analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.24.

Wells Fargo & Company Stock Up 1.0 %

NYSE:WFC opened at $56.47 on Tuesday. The stock has a 50-day simple moving average of $55.69 and a 200 day simple moving average of $57.81. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company has a market cap of $196.87 billion, a PE ratio of 11.60, a PEG ratio of 1.32 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. On average, sell-side analysts expect that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is 32.85%.

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.