Americana Partners LLC Has $492,000 Stake in Wells Fargo & Company (NYSE:WFC)

Americana Partners LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,287 shares of the financial services provider’s stock after buying an additional 286 shares during the quarter. Americana Partners LLC’s holdings in Wells Fargo & Company were worth $492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in shares of Wells Fargo & Company during the fourth quarter worth $2,623,044,000. LSV Asset Management lifted its holdings in Wells Fargo & Company by 40.4% during the fourth quarter. LSV Asset Management now owns 9,308,450 shares of the financial services provider’s stock worth $458,162,000 after acquiring an additional 2,677,050 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in Wells Fargo & Company by 67.1% during the first quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after acquiring an additional 2,349,595 shares in the last quarter. Morningstar Investment Services LLC grew its stake in Wells Fargo & Company by 103.7% in the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock valued at $189,684,000 after acquiring an additional 1,951,477 shares during the period. Finally, Rokos Capital Management LLP increased its holdings in shares of Wells Fargo & Company by 141.6% in the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after acquiring an additional 1,536,152 shares in the last quarter. 75.90% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Up 2.0 %

NYSE:WFC opened at $58.47 on Friday. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The firm has a market capitalization of $199.02 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.43 and a beta of 1.17. 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 stock’s 50 day moving average price is $57.40 and its two-hundred day moving average price is $57.65.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping 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 business had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. During the same period in the previous year, the company earned $1.25 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts expect that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.74%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. 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 note on Thursday, July 11th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and lowered their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Keefe, Bruyette & Woods dropped their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $67.00 target price (down from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Thirteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.63.

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.