Family Firm Inc. boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 18.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,203 shares of the financial services provider’s stock after purchasing an additional 1,736 shares during the period. Family Firm Inc.’s holdings in Wells Fargo & were worth $621,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WFC. Delphi Private Advisors LLC boosted its stake in Wells Fargo & by 262.8% during the 2nd quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 1,461 shares during the last quarter. Brick & Kyle Associates boosted its stake in Wells Fargo & by 9.5% during the 1st quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 162 shares during the last quarter. Stelac Advisory Services LLC bought a new position in Wells Fargo & during the 2nd quarter valued at $104,000. Clear Investment Research LLC bought a new position in Wells Fargo & during the 2nd quarter valued at $121,000. Finally, Signature Estate & Investment Advisors LLC bought a new position in Wells Fargo & during the 1st quarter valued at $124,000. 75.86% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have commented on WFC shares. Keefe, Bruyette & Woods set a $61.00 price objective on shares of Wells Fargo & and gave the company a “buy” rating in a research note on Friday, August 25th. UBS AG set a $57.00 price objective on shares of Wells Fargo & and gave the company a “neutral” rating in a research note on Friday, October 6th. Vetr upgraded shares of Wells Fargo & from a “sell” rating to a “strong-buy” rating in a research note on Monday, November 6th. BMO Capital Markets increased their price objective on shares of Wells Fargo & from $49.00 to $50.00 and gave the company a “market perform” rating in a research note on Monday, October 16th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Wells Fargo & in a research report on Wednesday, October 11th. Six equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $57.20.
Wells Fargo & (NYSE:WFC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.20). The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & had a return on equity of 12.59% and a net margin of 22.00%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. research analysts expect that Wells Fargo & Company will post 3.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 3rd will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $1.56 annualized dividend and a dividend yield of 2.86%. Wells Fargo &’s dividend payout ratio is currently 40.31%.
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Wells Fargo & Company Profile
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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