Barings LLC Acquires 5,800 Shares of Wells Fargo & Co (WFC)

Barings LLC lifted its stake in shares of Wells Fargo & Co (NYSE:WFC) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,021 shares of the financial services provider’s stock after purchasing an additional 5,800 shares during the period. Barings LLC’s holdings in Wells Fargo & Co were worth $3,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Rothschild Asset Management Inc. lifted its holdings in shares of Wells Fargo & Co by 1.0% in the 2nd quarter. Rothschild Asset Management Inc. now owns 589,885 shares of the financial services provider’s stock worth $32,703,000 after acquiring an additional 5,584 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in shares of Wells Fargo & Co by 15.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 748,401 shares of the financial services provider’s stock worth $41,434,000 after acquiring an additional 99,137 shares during the last quarter. Berkshire Asset Management LLC PA lifted its holdings in shares of Wells Fargo & Co by 3.3% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 507,054 shares of the financial services provider’s stock worth $26,651,000 after acquiring an additional 16,315 shares during the last quarter. R. G. Niederhoffer Capital Management Inc. acquired a new position in shares of Wells Fargo & Co in the 2nd quarter worth approximately $1,308,000. Finally, Colony Group LLC lifted its holdings in shares of Wells Fargo & Co by 76.3% in the 2nd quarter. Colony Group LLC now owns 54,576 shares of the financial services provider’s stock worth $3,026,000 after acquiring an additional 23,621 shares during the last quarter. 75.50% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Wells Fargo & Co from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Macquarie lowered shares of Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. Wolfe Research initiated coverage on shares of Wells Fargo & Co in a research note on Tuesday, September 25th. They set an “outperform” rating on the stock. Edward Jones raised shares of Wells Fargo & Co from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Finally, Citigroup raised shares of Wells Fargo & Co from a “neutral” rating to a “buy” rating in a research note on Friday, November 2nd. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $63.79.

Shares of Wells Fargo & Co stock traded down $0.11 during trading hours on Thursday, hitting $52.43. The company had a trading volume of 16,944,594 shares, compared to its average volume of 23,230,002. Wells Fargo & Co has a twelve month low of $50.02 and a twelve month high of $66.31. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 1.26. The stock has a market cap of $256.28 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.05 and a beta of 1.01.

Wells Fargo & Co (NYSE:WFC) last issued its earnings results on Friday, October 12th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.04). The company had revenue of $21.94 billion during the quarter, compared to analyst estimates of $21.90 billion. Wells Fargo & Co had a net margin of 23.17% and a return on equity of 12.69%. On average, analysts forecast that Wells Fargo & Co will post 4.5 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Friday, November 9th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Thursday, November 8th. Wells Fargo & Co’s dividend payout ratio is currently 41.85%.

Wells Fargo & Co announced that its Board of Directors has authorized a share buyback program on Tuesday, October 23rd that allows the company to buyback 350,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

TRADEMARK VIOLATION WARNING: “Barings LLC Acquires 5,800 Shares of Wells Fargo & Co (WFC)” was first reported by Enterprise Leader and is the property of of Enterprise Leader. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://theenterpriseleader.com/2018/11/22/wells-fargo-co-wfc-shares-bought-by-barings-llc.html.

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.

Recommended Story: How to Invest in the Dividend Aristocrat Index

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

Receive News & Ratings for Wells Fargo & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply