Wells Fargo & Company (NYSE:WFC) Shares Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 31.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,174 shares of the financial services provider’s stock after purchasing an additional 5,784 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Wells Fargo & Company were worth $1,436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFC. John W. Brooker & Co. CPAs lifted its stake in shares of Wells Fargo & Company by 2.5% in the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 171 shares during the period. McAdam LLC lifted its position in 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 purchasing an additional 178 shares during the period. Prentice Wealth Management LLC boosted its holdings in Wells Fargo & Company by 2.0% in the 2nd quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock valued at $560,000 after purchasing an additional 184 shares in the last quarter. Clearstead Trust LLC boosted its holdings in 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 valued at $94,000 after purchasing an additional 186 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in Wells Fargo & Company by 3.4% during the 2nd quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 193 shares during the period. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on WFC. The Goldman Sachs Group reduced their price target 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. Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Evercore ISI cut their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Morgan Stanley boosted their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, BMO Capital Markets increased their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Twelve investment 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.com, the company currently has an average rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Stock Performance

NYSE WFC opened at $56.29 on Friday. 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 has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. The business has a fifty day moving average of $56.19 and a 200-day moving average of $57.89. The stock has a market cap of $196.24 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm 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 firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio 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.