433 Shares in Wells Fargo & Company (NYSE:WFC) Acquired by Strategic Investment Solutions Inc. IL

Strategic Investment Solutions Inc. IL bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 433 shares of the financial services provider’s stock, valued at approximately $26,000.

Other institutional investors have also recently bought and sold shares of the company. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company during the fourth quarter worth about $25,000. Transcendent Capital Group LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $32,000. Beaird Harris Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth approximately $34,000. Valued Wealth Advisors LLC raised its holdings in shares of 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 purchasing an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its position in shares of Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 648 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC opened at $54.98 on Friday. 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 business has a fifty day simple moving average of $55.43 and a 200 day simple moving average of $57.76. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The company has a market capitalization of $191.68 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last announced its 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. 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 business posted $1.25 earnings per share. Wells Fargo & Company’s quarterly revenue was up .8% on a year-over-year basis. Research analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders 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 dividend yield of 2.91%. 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 dividend payout ratio is presently 32.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WFC shares. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, September 3rd. Morgan Stanley dropped their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday. BMO Capital Markets raised their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Evercore ISI boosted their price target on Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and cut their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.41.

Wells Fargo & Company 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.