Quadrature Capital Ltd Invests $853,000 in Wells Fargo & Co (WFC)

Quadrature Capital Ltd purchased a new stake in Wells Fargo & Co (NYSE:WFC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,275 shares of the financial services provider’s stock, valued at approximately $853,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WFC. Jackson Grant Investment Advisers Inc. grew its stake in shares of Wells Fargo & Co by 15.0% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 6,387 shares of the financial services provider’s stock worth $388,000 after buying an additional 832 shares during the last quarter. Milestone Group Inc. grew its stake in shares of Wells Fargo & Co by 13.3% during the fourth quarter. Milestone Group Inc. now owns 7,407 shares of the financial services provider’s stock worth $449,000 after buying an additional 868 shares during the last quarter. Enterprise Financial Services Corp grew its stake in shares of Wells Fargo & Co by 22.0% during the fourth quarter. Enterprise Financial Services Corp now owns 4,892 shares of the financial services provider’s stock worth $297,000 after buying an additional 882 shares during the last quarter. Heritage Wealth Advisors grew its stake in shares of Wells Fargo & Co by 3.3% during the fourth quarter. Heritage Wealth Advisors now owns 28,007 shares of the financial services provider’s stock worth $1,694,000 after buying an additional 892 shares during the last quarter. Finally, Wetherby Asset Management Inc. grew its stake in shares of Wells Fargo & Co by 1.2% during the fourth quarter. Wetherby Asset Management Inc. now owns 73,867 shares of the financial services provider’s stock worth $4,482,000 after buying an additional 899 shares during the last quarter. Institutional investors own 76.04% of the company’s stock.

In other Wells Fargo & Co news, EVP Petros G. Pelos sold 25,567 shares of the company’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $54.76, for a total transaction of $1,400,048.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

A number of research firms have weighed in on WFC. Zacks Investment Research cut shares of Wells Fargo & Co from a “hold” rating to a “sell” rating in a research note on Monday, April 9th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 target price on shares of Wells Fargo & Co in a research note on Thursday, April 5th. Vetr raised shares of Wells Fargo & Co from a “sell” rating to a “hold” rating and set a $54.10 target price on the stock in a research note on Thursday, April 5th. UBS Group raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Thursday, April 5th. Finally, Susquehanna Bancshares set a $58.00 target price on shares of Wells Fargo & Co and gave the stock a “hold” rating in a research note on Monday, April 23rd. Six analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. Wells Fargo & Co currently has an average rating of “Hold” and an average price target of $61.82.

Shares of WFC opened at $55.44 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.27. The firm has a market cap of $259.89 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.44 and a beta of 1.12. Wells Fargo & Co has a 12 month low of $49.27 and a 12 month high of $66.31.

Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings results on Friday, April 13th. The financial services provider reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.05. The business had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.74 billion. Wells Fargo & Co had a net margin of 22.80% and a return on equity of 12.46%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 earnings per share. sell-side analysts predict that Wells Fargo & Co will post 4.57 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Friday, May 4th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, May 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.81%. Wells Fargo & Co’s dividend payout ratio (DPR) is currently 37.96%.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.

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Institutional Ownership by Quarter for Wells Fargo & Co (NYSE:WFC)

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