Boston Partners Increases Stake in Wells Fargo & Co (WFC)

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Boston Partners grew its stake in shares of Wells Fargo & Co (NYSE:WFC) by 12.6% in the second quarter, Holdings Channel reports. The fund owned 21,223,020 shares of the financial services provider’s stock after buying an additional 2,372,583 shares during the quarter. Wells Fargo & Co comprises about 1.4% of Boston Partners’ holdings, making the stock its 7th biggest position. Boston Partners’ holdings in Wells Fargo & Co were worth $1,176,604,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in WFC. Intact Investment Management Inc. lifted its holdings in shares of Wells Fargo & Co by 88.1% in the second quarter. Intact Investment Management Inc. now owns 102,900 shares of the financial services provider’s stock valued at $5,708,000 after purchasing an additional 48,200 shares in the last quarter. Alethea Capital Management LLC purchased a new stake in shares of Wells Fargo & Co in the second quarter valued at $542,000. Channing Capital Management LLC lifted its holdings in shares of Wells Fargo & Co by 21.2% in the second quarter. Channing Capital Management LLC now owns 166,910 shares of the financial services provider’s stock valued at $9,253,000 after purchasing an additional 29,199 shares in the last quarter. BerganKDV Wealth Management LLC lifted its holdings in shares of Wells Fargo & Co by 3.4% in the second quarter. BerganKDV Wealth Management LLC now owns 128,582 shares of the financial services provider’s stock valued at $7,129,000 after purchasing an additional 4,224 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC lifted its holdings in shares of Wells Fargo & Co by 76.4% in the second quarter. Bell & Brown Wealth Advisors LLC now owns 47,076 shares of the financial services provider’s stock valued at $2,610,000 after purchasing an additional 20,396 shares in the last quarter. Institutional investors own 75.77% of the company’s stock.

In other news, EVP Hope A. Hardison sold 25,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the transaction, the executive vice president now directly owns 109 shares of the company’s stock, valued at $6,323.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Avid Modjtabai sold 100,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $58.71, for a total transaction of $5,871,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

NYSE WFC opened at $58.46 on Friday. Wells Fargo & Co has a 1-year low of $49.27 and a 1-year high of $66.31. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a market capitalization of $288.28 billion, a PE ratio of 14.22, a P/E/G ratio of 1.60 and a beta of 1.13.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Friday, July 13th. The financial services provider reported $1.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.12 by ($0.04). Wells Fargo & Co had a return on equity of 12.38% and a net margin of 22.03%. The company had revenue of $21.55 billion during the quarter, compared to analyst estimates of $21.52 billion. sell-side analysts predict that Wells Fargo & Co will post 4.56 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Friday, August 10th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, August 9th. This is an increase from Wells Fargo & Co’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.94%. Wells Fargo & Co’s dividend payout ratio is 41.85%.

A number of analysts have recently issued reports on WFC shares. Morgan Stanley upgraded Wells Fargo & Co from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $57.00 to $62.00 in a report on Monday, July 2nd. Zacks Investment Research upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Saturday, July 7th. Susquehanna Bancshares set a $63.00 target price on Wells Fargo & Co and gave the company a “hold” rating in a report on Friday, July 13th. Finally, Keefe, Bruyette & Woods upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and increased their target price for the company from $57.00 to $63.00 in a report on Sunday, July 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $63.34.

Wells Fargo & Co Company 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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