Wells Fargo & Company (NYSE:WFC) is Qsemble Capital Management LP’s 8th Largest Position

Qsemble Capital Management LP boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 55.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 83,540 shares of the financial services provider’s stock after acquiring an additional 29,760 shares during the quarter. Wells Fargo & Company accounts for approximately 0.9% of Qsemble Capital Management LP’s investment portfolio, making the stock its 8th biggest position. Qsemble Capital Management LP’s holdings in Wells Fargo & Company were worth $4,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WFC. 9258 Wealth Management LLC boosted its holdings in Wells Fargo & Company by 4.1% during the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock valued at $638,000 after acquiring an additional 516 shares during the period. Gryphon Financial Partners LLC boosted its holdings in Wells Fargo & Company by 93.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock valued at $1,246,000 after acquiring an additional 12,778 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Wells Fargo & Company by 2.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,847,713 shares of the financial services provider’s stock valued at $90,944,000 after acquiring an additional 51,521 shares during the period. Westpac Banking Corp acquired a new stake in Wells Fargo & Company in the 4th quarter valued at about $259,000. Finally, Quadrant Capital Group LLC raised its position in Wells Fargo & Company by 61.7% in the 4th quarter. Quadrant Capital Group LLC now owns 41,268 shares of the financial services provider’s stock valued at $2,031,000 after purchasing an additional 15,742 shares in the last quarter. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WFC. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods reduced their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and reduced their price target for the company from $62.00 to $59.00 in a research report on Friday, August 16th. Morgan Stanley increased their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI reduced their price target on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Trading Down 0.4 %

NYSE:WFC opened at $53.73 on Thursday. The stock’s 50 day moving average price is $56.92 and its 200 day moving average price is $57.94. The company has a market capitalization of $187.32 billion, a PE ratio of 11.03, a P/E/G ratio of 1.27 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. On average, research analysts anticipate that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

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.