Today: The Everence Capital Management Inc. Reached $4,445,000 position of Wells Fargo & Co. (WFC)

The Everence Capital Management Inc. Reached $4,445,000 position  of Wells Fargo & Co. (WFC)

Everence Capital Management Inc. raised its stake in Wells Fargo & Co. (NYSE:WFC) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 93,917 shares of the financial services provider’s stock after buying an additional 1,160 shares during the period. Wells Fargo & Co. comprises about 1.4% of Everence Capital Management Inc.’s holdings, making the stock its 11th largest position. Everence Capital Management Inc.’s holdings in Wells Fargo & Co. were worth $4,445,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in WFC. Ngam Advisors L.P. raised its stake in Wells Fargo & Co. by 8.4% in the first quarter. Ngam Advisors L.P. now owns 1,045,112 shares of the financial services provider’s stock valued at $50,542,000 after buying an additional 80,608 shares in the last quarter. Cornerstone Financial Partners LLC raised its stake in Wells Fargo & Co. by 26.6% in the first quarter. Cornerstone Financial Partners LLC now owns 41,659 shares of the financial services provider’s stock valued at $2,013,000 after buying an additional 8,762 shares in the last quarter. Ironwood Financial llc acquired a new stake in Wells Fargo & Co. during the first quarter valued at approximately $182,000. Dubuque Bank & Trust Co. raised its stake in Wells Fargo & Co. by 153.6% in the first quarter. Dubuque Bank & Trust Co. now owns 48,186 shares of the financial services provider’s stock valued at $2,331,000 after buying an additional 29,182 shares in the last quarter. Finally, united american securities inc. d b a uas asset management raised its stake in Wells Fargo & Co. by 7.9% in the first quarter. united american securities inc. d b a uas asset management now owns 326,965 shares of the financial services provider’s stock valued at $15,812,000 after buying an additional 24,000 shares in the last quarter. Institutional investors and hedge funds own 73.94% of the company’s stock.

Wells Fargo & Co. (NYSE:WFC) traded down 0.39% during midday trading on Friday, reaching $46.23. The company’s stock had a trading volume of 20,882,042 shares. Wells Fargo & Co. has a 1-year low of $43.55 and a 1-year high of $56.34. The firm has a market capitalization of $232.25 billion, a PE ratio of 11.47 and a beta of 0.91. The firm has a 50 day moving average price of $45.55 and a 200 day moving average price of $47.89.

Wells Fargo & Co. (NYSE:WFC) last posted its earnings results on Friday, October 14th. The financial services provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.02. Wells Fargo & Co. had a return on equity of 12.72% and a net margin of 23.91%. The firm earned $22.30 billion during the quarter. During the same quarter last year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts predict that Wells Fargo & Co. will post $4.03 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 4th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.52 annualized dividend and a yield of 3.29%. Wells Fargo & Co.’s dividend payout ratio (DPR) is currently 37.44%.

Several research firms recently commented on WFC. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Wells Fargo & Co. in a research report on Wednesday, August 31st. Vetr lowered shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $46.32 target price on the stock. in a report on Tuesday, August 30th. Zacks Investment Research upgraded shares of Wells Fargo & Co. from a “sell” rating to a “hold” rating in a report on Monday, September 5th. Sandler O’Neill restated a “hold” rating on shares of Wells Fargo & Co. in a report on Friday, September 9th. Finally, Rafferty Capital Markets lowered shares of Wells Fargo & Co. from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a report on Friday, September 9th. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.49.

In other Wells Fargo & Co. news, COO Timothy J. Sloan sold 20,500 shares of Wells Fargo & Co. stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $48.92, for a total value of $1,002,860.00. Following the transaction, the chief operating officer now directly owns 650,815 shares of the company’s stock, valued at approximately $31,837,869.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.29% of the stock is owned by company insiders.

Wells Fargo & Co. Company Profile

Wells Fargo & Company is a bank holding company. The Company is a financial services company, which offers banking, insurance, trust and investments, mortgage banking, investment banking, retail banking, brokerage, and consumer and commercial finance. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management.

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