Hantz Financial Services Inc. Buys New Position in Wells Fargo & Company (NYSE:WFC)

Hantz Financial Services Inc. bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 3,599 shares of the financial services provider’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WFC. Fisher Asset Management LLC boosted its position in shares of Wells Fargo & Company by 4.5% during the 4th quarter. Fisher Asset Management LLC now owns 25,243 shares of the financial services provider’s stock valued at $1,242,000 after purchasing an additional 1,079 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in Wells Fargo & Company by 64.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 253,298 shares of the financial services provider’s stock worth $12,467,000 after buying an additional 99,508 shares during the period. Summit Global Investments raised its stake in Wells Fargo & Company by 4.9% during the 4th quarter. Summit Global Investments now owns 6,036 shares of the financial services provider’s stock worth $297,000 after buying an additional 283 shares during the period. 9258 Wealth Management LLC raised its stake in Wells Fargo & Company by 4.1% during the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock worth $638,000 after buying an additional 516 shares during the period. Finally, Axxcess Wealth Management LLC raised its stake in Wells Fargo & Company by 22.5% during the 4th quarter. Axxcess Wealth Management LLC now owns 65,453 shares of the financial services provider’s stock worth $3,222,000 after buying an additional 12,026 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $58.47 on Monday. The business’s fifty day simple moving average is $57.40 and its 200 day simple moving average is $57.78. The firm has a market capitalization of $203.84 billion, a P/E ratio of 12.01, a price-to-earnings-growth ratio of 1.43 and a beta of 1.17. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results 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 business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. Wells Fargo & Company’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the company posted $1.25 earnings per share. As a group, analysts anticipate that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 32.85%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WFC. Keefe, Bruyette & Woods dropped their price target on 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 reissued an “outperform” rating and issued a $67.00 price objective (down from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Morgan Stanley increased their price objective on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. BMO Capital Markets increased their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Finally, Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and lowered their price objective for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Thirteen investment 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $59.63.

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.