Beacon Capital Management LLC Has $76,000 Stake in Wells Fargo & Company (NYSE:WFC)

Beacon Capital Management LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 18.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,316 shares of the financial services provider’s stock after purchasing an additional 203 shares during the period. Beacon Capital Management LLC’s holdings in Wells Fargo & Company were worth $76,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $2,623,044,000. LSV Asset Management boosted its position in shares of Wells Fargo & Company by 40.4% in the 4th quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after purchasing an additional 2,677,050 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Wells Fargo & Company by 67.1% in the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after purchasing an additional 2,349,595 shares during the last quarter. Morningstar Investment Services LLC boosted its position in shares of Wells Fargo & Company by 103.7% in the 4th quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after purchasing an additional 1,951,477 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. bought a new position in shares of Wells Fargo & Company in the 1st quarter worth $84,819,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Oppenheimer restated a “market perform” rating on shares of Wells Fargo & Company in a research report on Monday, April 15th. Argus lifted their target price on Wells Fargo & Company from $57.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Jefferies Financial Group lifted their target price on Wells Fargo & Company from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Morgan Stanley lifted their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, BMO Capital Markets lifted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Thirteen analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and a consensus target price of $59.52.

Wells Fargo & Company Price Performance

Shares of NYSE:WFC traded down $2.43 during trading on Thursday, hitting $56.91. 13,221,847 shares of the company were exchanged, compared to its average volume of 18,087,283. The business’s 50 day moving average is $59.06 and its 200-day moving average is $56.77. The company has a market capitalization of $198.41 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17. 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 1-year low of $38.38 and a 1-year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. Equities analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is presently 28.75%.

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.