Wells Fargo & Company (NYSE:WFC) Stock Holdings Raised by Rathbones Group PLC

Rathbones Group PLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 1.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 109,885 shares of the financial services provider’s stock after purchasing an additional 1,762 shares during the period. Rathbones Group PLC’s holdings in Wells Fargo & Company were worth $6,526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WFC. Core Wealth Advisors Inc. bought a new stake in shares of Wells Fargo & Company in the 4th quarter worth about $25,000. Transcendent Capital Group LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $32,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Valued Wealth Advisors LLC grew its position in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of Wells Fargo & Company by 704.3% during the 1st quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WFC shares. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, September 3rd. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group lowered their price objective on shares of Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Jefferies Financial Group lowered shares of Wells Fargo & Company to a “hold” rating and reduced their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, Evercore ISI reduced their target price on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, September 6th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Stock Up 2.3 %

WFC stock opened at $52.78 on Monday. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The company’s 50 day simple moving average is $56.60 and its 200-day simple moving average is $57.93. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market capitalization of $184.01 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. As a group, equities research analysts anticipate that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

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.