Meitav Dash Investments Ltd. Has $1.06 Million Stock Holdings in Wells Fargo & Co (NYSE:WFC)

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Meitav Dash Investments Ltd. lifted its stake in Wells Fargo & Co (NYSE:WFC) by 303.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,505 shares of the financial services provider’s stock after acquiring an additional 31,208 shares during the quarter. Meitav Dash Investments Ltd.’s holdings in Wells Fargo & Co were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also bought and sold shares of the business. Optimum Investment Advisors lifted its position in Wells Fargo & Co by 7.8% in the 1st quarter. Optimum Investment Advisors now owns 11,731 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 852 shares in the last quarter. Spectrum Asset Management Inc. NB CA increased its position in shares of Wells Fargo & Co by 15.5% in the first quarter. Spectrum Asset Management Inc. NB CA now owns 49,526 shares of the financial services provider’s stock valued at $1,421,000 after buying an additional 6,650 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Wells Fargo & Co by 9.1% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 137,921 shares of the financial services provider’s stock valued at $3,958,000 after buying an additional 11,500 shares in the last quarter. Brooks Moore & Associates Inc. increased its position in shares of Wells Fargo & Co by 29.3% during the first quarter. Brooks Moore & Associates Inc. now owns 27,308 shares of the financial services provider’s stock worth $784,000 after purchasing an additional 6,180 shares in the last quarter. Finally, Plimoth Trust Co. LLC increased its position in shares of Wells Fargo & Co by 49.6% during the first quarter. Plimoth Trust Co. LLC now owns 9,020 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 2,989 shares in the last quarter. 72.93% of the stock is currently owned by hedge funds and other institutional investors.

WFC has been the subject of several analyst reports. BMO Capital Markets dropped their target price on Wells Fargo & Co from $41.00 to $36.00 in a report on Thursday, July 16th. Seaport Global Securities initiated coverage on Wells Fargo & Co in a research note on Wednesday, July 8th. They set a “neutral” rating on the stock. Citigroup reduced their price target on Wells Fargo & Co from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, July 16th. Compass Point reduced their price target on Wells Fargo & Co from $33.00 to $25.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Evercore ISI raised Wells Fargo & Co from an “in-line” rating to an “outperform” rating and increased their price target for the company from $26.00 to $27.00 in a research report on Wednesday, July 15th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $33.31.

Shares of WFC traded down $0.33 during mid-day trading on Thursday, hitting $23.74. The company’s stock had a trading volume of 1,160,053 shares, compared to its average volume of 38,672,440. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 1.45. The firm has a 50-day simple moving average of $25.12 and a 200 day simple moving average of $30.54. The firm has a market capitalization of $99.05 billion, a P/E ratio of 27.24, a P/E/G ratio of 64.88 and a beta of 1.11. Wells Fargo & Co has a 1-year low of $22.00 and a 1-year high of $54.75.

Wells Fargo & Co (NYSE:WFC) last posted its quarterly earnings results on Tuesday, July 14th. The financial services provider reported ($0.66) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.50). The business had revenue of $17.80 billion during the quarter, compared to analyst estimates of $18.30 billion. Wells Fargo & Co had a net margin of 6.26% and a return on equity of 4.33%. The firm’s quarterly revenue was down 17.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share. As a group, sell-side analysts predict that Wells Fargo & Co will post 0.04 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $0.40 annualized dividend and a yield of 1.68%. Wells Fargo & Co’s dividend payout ratio is presently 9.13%.

Wells Fargo & Co Profile

Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. It operates through three segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The company also engages in the wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance, commercial finance, securities brokerage and investment banking, computer and data processing, trust, investment advisory, mortgage-backed securities, and venture capital investment services.

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

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