Caprock Group LLC Raises Stock Position in Wells Fargo & Company (NYSE:WFC)

Caprock Group LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 105.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,457 shares of the financial services provider’s stock after acquiring an additional 42,363 shares during the quarter. Caprock Group LLC’s holdings in Wells Fargo & Company were worth $4,897,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WFC. John W. Brooker & Co. CPAs raised its holdings in Wells Fargo & Company by 2.5% during the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares during the last quarter. McAdam LLC increased its position in shares of Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after buying an additional 178 shares in the last quarter. Prentice Wealth Management LLC raised its stake in shares of Wells Fargo & Company by 2.0% during the 2nd quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after buying an additional 184 shares during the last quarter. Clearstead Trust LLC boosted its position in shares of Wells Fargo & Company by 13.0% in the 1st quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock worth $94,000 after buying an additional 186 shares in the last quarter. Finally, Fortitude Family Office LLC grew its stake in Wells Fargo & Company by 3.4% in the 2nd quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 193 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 5.0 %

Shares of WFC opened at $54.00 on Friday. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The company’s fifty day moving average is $57.31 and its two-hundred day moving average is $57.93. The firm has a market cap of $188.26 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts forecast that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is 32.85%.

Wall Street Analyst Weigh In

WFC has been the subject of a number of research reports. Keefe, Bruyette & Woods cut their target price on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft raised Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, September 3rd. BMO Capital Markets raised their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, Evercore ISI reduced their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.29.

Wells Fargo & 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.