Camden National Bank lifted its position in Wells Fargo & Company (NYSE:WFC) by 49.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,088 shares of the financial services provider’s stock after purchasing an additional 2,353 shares during the quarter. Camden National Bank’s holdings in Wells Fargo & were worth $393,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Delphi Private Advisors LLC increased its stake in Wells Fargo & by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,461 shares during the last quarter. Brick & Kyle Associates boosted its holdings in shares of Wells Fargo & by 9.5% during the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 162 shares during the period. Stelac Advisory Services LLC purchased a new stake in shares of Wells Fargo & during the second quarter worth about $104,000. Clear Investment Research LLC purchased a new stake in shares of Wells Fargo & during the second quarter worth about $121,000. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of Wells Fargo & during the first quarter worth about $124,000. 75.86% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Wells Fargo & Company (WFC) opened at $53.81 on Monday. Wells Fargo & Company has a twelve month low of $49.27 and a twelve month high of $59.99. The stock has a market cap of $264,974.47, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.29 and a beta of 0.97. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 1.32.
Wells Fargo & (NYSE:WFC) last posted its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. analysts anticipate that Wells Fargo & Company will post 3.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.
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Several brokerages have commented on WFC. Vetr upgraded shares of Wells Fargo & from a “sell” rating to a “strong-buy” rating in a report on Monday, November 6th. Zacks Investment Research raised shares of Wells Fargo & from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Wells Fargo & in a research note on Wednesday, October 11th. Robert W. Baird reaffirmed a “buy” rating and set a $58.00 target price on shares of Wells Fargo & in a research note on Friday, October 6th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $65.00 target price (up previously from $60.00) on shares of Wells Fargo & in a research note on Monday, October 9th. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $57.20.
Wells Fargo & Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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