Hanseatic Management Services Inc. Makes New Investment in Wells Fargo & Company (NYSE:WFC)

Hanseatic Management Services Inc. bought a new position in Wells Fargo & Company (NYSE:WFC) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,471 shares of the financial services provider’s stock, valued at approximately $604,000.

Other institutional investors have also added to or reduced their stakes in the company. Silicon Valley Capital Partners bought a new position in Wells Fargo & Company in the 4th quarter worth about $26,000. Barrett & Company Inc. bought a new position in shares of Wells Fargo & Company during the 1st quarter valued at about $25,000. Studio Investment Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $28,000. Activest Wealth Management bought a new position in shares of Wells Fargo & Company during the 1st quarter valued at about $30,000. Finally, Lakewood Asset Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at about $37,000. 72.47% of the stock is currently owned by institutional investors.

Wells Fargo & Company Stock Up 1.4 %

Shares of NYSE:WFC opened at $41.00 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average is $43.50 and its 200 day moving average is $41.63. The stock has a market cap of $150.01 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.82 and a beta of 1.14. Wells Fargo & Company has a 52-week low of $35.25 and a 52-week high of $48.84.

Wells Fargo & Company (NYSE:WFC) last announced its earnings results on Friday, July 14th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.09. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Wells Fargo & Company had a return on equity of 11.15% and a net margin of 16.18%. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Sell-side analysts predict that Wells Fargo & Company will post 4.84 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 4th were given a dividend of $0.35 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 3.41%. Wells Fargo & Company’s dividend payout ratio is presently 35.00%.

Analyst Ratings Changes

Several brokerages have recently commented on WFC. Citigroup increased their price objective on Wells Fargo & Company from $50.00 to $52.00 in a research report on Sunday, July 16th. Atlantic Securities increased their price objective on Wells Fargo & Company from $50.00 to $52.50 and gave the company an “overweight” rating in a research report on Tuesday, August 1st. Raymond James increased their target price on Wells Fargo & Company from $48.00 to $51.00 and gave the company a “strong-buy” rating in a report on Monday, July 3rd. Wolfe Research cut Wells Fargo & Company from an “outperform” rating to a “peer perform” rating in a report on Friday, July 7th. Finally, Odeon Capital Group cut Wells Fargo & Company from a “buy” rating to a “hold” rating and set a $43.75 target price for the company. in a report on Monday, July 17th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Wells Fargo & Company has an average rating of “Moderate Buy” and a consensus target price of $48.39.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.