Wells Fargo & Company (NYSE:WFC) Shares Acquired by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 575,419 shares of the financial services provider’s stock after purchasing an additional 11,037 shares during the period. Wells Fargo & Company makes up 1.3% of Cardinal Capital Management Inc.’s portfolio, making the stock its 21st biggest position. Cardinal Capital Management Inc.’s holdings in Wells Fargo & Company were worth $32,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the second quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $26,000. Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company during the fourth quarter worth about $32,000. Valued Wealth Advisors LLC lifted its holdings in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in shares of Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 648 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wolfe Research upgraded shares of Wells Fargo & Company from a “peer perform” rating to an “outperform” rating and set a $65.00 price target for the company in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, September 3rd. Evercore ISI upped their target price on shares of Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley cut their price target on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. Twelve investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $61.07.

Wells Fargo & Company Price Performance

NYSE WFC opened at $60.99 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 1 year low of $38.58 and a 1 year high of $62.55. The company has a market cap of $212.63 billion, a PE ratio of 12.52, a PEG ratio of 1.46 and a beta of 1.16. The stock’s 50-day moving average price is $55.39 and its two-hundred day moving average price is $57.79.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, October 11th. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.25. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm had revenue of $20.37 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the business posted $1.39 EPS. The company’s revenue was down 2.4% on a year-over-year basis. On average, analysts predict that Wells Fargo & Company will post 5.12 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.62%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is presently 32.85%.

Wells Fargo & Company 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.