Frank Rimerman Advisors LLC Boosts Holdings in Wells Fargo & Company (NYSE:WFC)

Frank Rimerman Advisors LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 51,610.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 20,684 shares of the financial services provider’s stock after acquiring an additional 20,644 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Wells Fargo & Company were worth $1,228,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WFC. 9258 Wealth Management LLC raised its stake in shares of Wells Fargo & Company by 4.1% during the fourth quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock worth $638,000 after acquiring an additional 516 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Wells Fargo & Company by 93.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock worth $1,246,000 after buying an additional 12,778 shares during the period. CreativeOne Wealth LLC purchased a new position in shares of Wells Fargo & Company in the fourth quarter worth $232,000. SageView Advisory Group LLC increased its stake in shares of Wells Fargo & Company by 169.1% in the fourth quarter. SageView Advisory Group LLC now owns 18,164 shares of the financial services provider’s stock worth $930,000 after buying an additional 11,414 shares during the period. Finally, Orion Portfolio Solutions LLC increased its stake in shares of Wells Fargo & Company by 9.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 128,739 shares of the financial services provider’s stock worth $6,427,000 after buying an additional 11,259 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Evercore ISI decreased their target price on shares of 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. Keefe, Bruyette & Woods decreased their target price 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. BMO Capital Markets lifted their target price on shares of 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. Morgan Stanley boosted 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. Finally, Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, September 3rd. Twelve research 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Price Performance

WFC opened at $56.29 on Monday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $196.24 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.27 and a beta of 1.16. The company’s 50-day simple moving average is $56.19 and its two-hundred day simple moving average is $57.90. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. As a group, analysts predict that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

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.