Pacifica Partners Inc. Boosts Position in Wells Fargo & Company (NYSE:WFC)

Pacifica Partners Inc. boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,233 shares of the financial services provider’s stock after purchasing an additional 270 shares during the quarter. Pacifica Partners Inc.’s holdings in Wells Fargo & Company were worth $1,708,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WFC. Marshall Wace LLP raised 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 worth $138,493,000 after acquiring an additional 2,404,898 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Wells Fargo & Company by 67.1% in the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after acquiring an additional 2,349,595 shares during the last quarter. Rokos Capital Management LLP raised its holdings in shares of Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after acquiring an additional 1,536,152 shares during the last quarter. Mn Services Vermogensbeheer B.V. acquired a new position in shares of Wells Fargo & Company in the first quarter worth $84,819,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Wells Fargo & Company by 38.1% in the first quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after acquiring an additional 1,415,647 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wells Fargo & Company Price Performance

WFC stock opened at $57.16 on Tuesday. 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 has a 1 year low of $38.58 and a 1 year high of $62.55. The firm has a market cap of $199.28 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. The stock has a 50-day simple moving average of $55.36 and a 200-day simple moving average of $57.76.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $20.29 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts predict 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 announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.80%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WFC shares. 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 report on Monday, September 30th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research note on Tuesday, September 3rd. Keefe, Bruyette & Woods dropped their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Finally, Evercore ISI upped their target price on Wells Fargo & Company from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Twelve equities 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. According to data from MarketBeat, Wells Fargo & Company has a consensus rating of “Hold” and a consensus target price of $60.41.

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.