Plancorp LLC Has $803,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Plancorp LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 1.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 13,514 shares of the financial services provider’s stock after purchasing an additional 240 shares during the quarter. Plancorp LLC’s holdings in Wells Fargo & Company were worth $803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Slagle Financial LLC grew its stake in Wells Fargo & Company by 97.3% in the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock valued at $6,822,000 after acquiring an additional 68,356 shares during the period. Ballentine Partners LLC grew its position in Wells Fargo & Company by 5.4% in the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock valued at $2,074,000 after purchasing an additional 1,835 shares during the period. Wedmont Private Capital increased its stake in Wells Fargo & Company by 16.4% during the 1st quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock valued at $8,805,000 after purchasing an additional 21,496 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Wells Fargo & Company by 28.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock worth $27,441,000 after buying an additional 106,260 shares during the last quarter. Finally, Evoke Wealth LLC raised its holdings in Wells Fargo & Company by 34.3% during the fourth quarter. Evoke Wealth LLC now owns 7,224 shares of the financial services provider’s stock worth $356,000 after buying an additional 1,846 shares during the last quarter. 75.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on WFC. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, September 3rd. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Evercore ISI cut their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, September 6th. Keefe, Bruyette & Woods lowered their price target on 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. Finally, The Goldman Sachs Group cut their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Stock Up 2.0 %

Shares of NYSE WFC opened at $53.81 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The company has a market cap of $187.60 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.27 and a beta of 1.16. Wells Fargo & Company has a 52 week low of $38.38 and a 52 week high of $62.55. The business has a 50-day simple moving average of $56.49 and a two-hundred day simple moving average of $57.92.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. Wells Fargo & Company’s revenue for the quarter was up .8% on a year-over-year basis. Research analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.97%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

About Wells Fargo & Company

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.