Airain ltd Buys New Position in Wells Fargo & Company (WFC)

Airain ltd Buys New Position in Wells Fargo & Company (WFC)

Airain ltd bought a new stake in Wells Fargo & Company (NYSE:WFC) during the third quarter, Holdings Channel reports. The firm bought 106,348 shares of the financial services provider’s stock, valued at approximately $4,709,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Banced Corp raised its position in Wells Fargo & Company by 13.1% in the second quarter. Banced Corp now owns 13,166 shares of the financial services provider’s stock worth $676,000 after buying an additional 1,522 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Wells Fargo & Company by 4.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,681,145 shares of the financial services provider’s stock valued at $79,571,000 after buying an additional 72,142 shares in the last quarter. Capital Investment Advisors LLC increased its stake in shares of Wells Fargo & Company by 0.5% in the second quarter. Capital Investment Advisors LLC now owns 68,473 shares of the financial services provider’s stock valued at $3,241,000 after buying an additional 324 shares in the last quarter. Willingdon Wealth Management increased its stake in shares of Wells Fargo & Company by 2.7% in the second quarter. Willingdon Wealth Management now owns 46,275 shares of the financial services provider’s stock valued at $2,190,000 after buying an additional 1,200 shares in the last quarter. Finally, Horan Capital Management increased its stake in shares of Wells Fargo & Company by 6.2% in the second quarter. Horan Capital Management now owns 294,352 shares of the financial services provider’s stock valued at $13,931,000 after buying an additional 17,225 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of Wells Fargo & Company (NYSE:WFC) traded down 0.8323% during mid-day trading on Friday, hitting $56.7041. The company had a trading volume of 8,155,379 shares. The stock’s 50-day moving average is $55.38 and its 200-day moving average is $49.87. The stock has a market cap of $284.43 billion, a price-to-earnings ratio of 14.2116 and a beta of 0.99. Wells Fargo & Company has a 52-week low of $43.55 and a 52-week high of $58.02.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, January 13th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.04. Wells Fargo & Company had a net margin of 23.30% and a return on equity of 12.60%. The business earned $21.60 billion during the quarter. During the same period in the prior year, the business posted $1.03 EPS. The business’s revenue for the quarter was up .0% on a year-over-year basis. Equities analysts forecast that Wells Fargo & Company will post $4.18 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Shareholders of record on Friday, February 3rd will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, February 1st. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 38.10%.

A number of analysts recently issued reports on WFC shares. Evercore ISI restated a “buy” rating and set a $58.00 price objective on shares of Wells Fargo & Company in a report on Thursday, December 15th. Jefferies Group LLC downgraded Wells Fargo & Company from a “buy” rating to a “hold” rating in a report on Monday, November 28th. BMO Capital Markets reiterated a “sell” rating and set a $50.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 11th. FBR & Co reiterated a “market perform” rating and set a $55.00 price target on shares of Wells Fargo & Company in a research report on Tuesday, January 17th. Finally, Piper Jaffray Companies reiterated a “sell” rating and set a $43.00 price target on shares of Wells Fargo & Company in a research report on Wednesday, January 11th. Seven equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $51.64.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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