Quantbot Technologies LP Takes Position in Wells Fargo & Company (NYSE:WFC)

Quantbot Technologies LP bought a new stake in Wells Fargo & Company (NYSE:WFC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 178,772 shares of the financial services provider’s stock, valued at approximately $10,099,000. Wells Fargo & Company accounts for approximately 0.4% of Quantbot Technologies LP’s portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Square LLC increased its stake in Wells Fargo & Company by 4.1% in the third quarter. Capital Square LLC now owns 4,577 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 179 shares during the period. Acorn Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the third quarter worth about $240,000. Truvestments Capital LLC acquired a new position in Wells Fargo & Company in the 3rd quarter valued at about $29,000. Concentric Wealth Management LLC raised its stake in Wells Fargo & Company by 0.3% during the 3rd quarter. Concentric Wealth Management LLC now owns 93,045 shares of the financial services provider’s stock valued at $5,256,000 after acquiring an additional 292 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at approximately $256,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WFC shares. Phillip Securities raised Wells Fargo & Company from a “neutral” rating to an “accumulate” rating and boosted their target price for the company from $60.83 to $65.00 in a report on Tuesday, October 15th. Compass Point lifted their price objective on shares of Wells Fargo & Company from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price objective for the company in a research report on Tuesday, October 8th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and reduced their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Morgan Stanley dropped their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. Thirteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $63.07.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $76.88 on Tuesday. The firm has a market capitalization of $255.97 billion, a PE ratio of 15.98, a P/E/G ratio of 1.58 and a beta of 1.14. Wells Fargo & Company has a 52 week low of $42.52 and a 52 week high of $77.31. The firm’s 50-day simple moving average is $63.74 and its 200 day simple moving average is $59.91. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, October 11th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.14. Wells Fargo & Company had a net margin of 14.43% and a return on equity of 12.25%. The company had revenue of $20.37 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts predict that Wells Fargo & Company will post 5.42 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Friday, November 8th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, November 8th. Wells Fargo & Company’s payout ratio is 33.26%.

Insider Transactions at Wells Fargo & Company

In other Wells Fargo & Company news, EVP Beurden Saul Van sold 35,000 shares of Wells Fargo & Company stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $61.99, for a total value of $2,169,650.00. Following the completion of the sale, the executive vice president now directly owns 126,687 shares of the company’s stock, valued at approximately $7,853,327.13. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ather Williams III sold 60,000 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $63.70, for a total value of $3,822,000.00. Following the completion of the transaction, the executive vice president now owns 163,610 shares of the company’s stock, valued at $10,421,957. This trade represents a 26.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.08% of the company’s stock.

Wells Fargo & Company Profile

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.