Wells Fargo & Company (NYSE:WFC) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its holdings in Wells Fargo & Company (NYSE:WFC) by 36.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,786 shares of the financial services provider’s stock after purchasing an additional 19,790 shares during the quarter. Summit Trail Advisors LLC’s holdings in Wells Fargo & Company were worth $4,442,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Core Wealth Advisors Inc. purchased a new position in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company during the fourth quarter worth $32,000. Beaird Harris Wealth Management LLC purchased a new position in Wells Fargo & Company during the fourth quarter worth about $34,000. Valued Wealth Advisors LLC lifted its holdings in Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in Wells Fargo & Company by 704.3% in 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 period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.8 %

Shares of WFC stock opened at $56.26 on Friday. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The stock has a market cap of $196.14 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. 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 stock has a fifty day moving average price of $56.19 and a 200 day moving average price of $57.88.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data 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 company had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The business’s revenue was up .8% on a year-over-year basis. During the same period last year, the business earned $1.25 earnings per share. Analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.84%. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Analyst Ratings Changes

A number of research firms recently issued reports on WFC. The Goldman Sachs Group decreased their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. 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 report on Tuesday, September 3rd. Morgan Stanley lifted 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. Evercore ISI decreased their price target on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 6th. Finally, BMO Capital Markets lifted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wells Fargo & Company currently has an average 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.