Founders Financial Alliance LLC Has $437,000 Stake in Wells Fargo & Company (NYSE:WFC)

Founders Financial Alliance LLC grew its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.4% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 7,350 shares of the financial services provider’s stock after buying an additional 378 shares during the period. Founders Financial Alliance LLC’s holdings in Wells Fargo & Company were worth $437,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in WFC. Slagle Financial LLC raised its position in Wells Fargo & Company by 97.3% in the fourth quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after purchasing an additional 68,356 shares in the last quarter. Ballentine Partners LLC raised its holdings in shares of Wells Fargo & Company by 5.4% during the first quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after acquiring an additional 1,835 shares during the period. Wedmont Private Capital raised its holdings in shares of Wells Fargo & Company by 16.4% during the first quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after acquiring an additional 21,496 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Wells Fargo & Company by 28.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 473,444 shares of the financial services provider’s stock worth $27,441,000 after buying an additional 106,260 shares in the last quarter. Finally, Evoke Wealth LLC lifted its position in Wells Fargo & Company by 34.3% during the 4th quarter. Evoke Wealth LLC now owns 7,224 shares of the financial services provider’s stock worth $356,000 after buying an additional 1,846 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WFC shares. Keefe, Bruyette & Woods decreased 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. Morgan Stanley cut their price target on shares of Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and cut their price target for the stock from $62.00 to $59.00 in a report on Friday, August 16th. 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. Finally, The Goldman Sachs Group cut their price objective on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $60.24.

Wells Fargo & Company Stock Performance

Shares of WFC opened at $56.47 on Tuesday. The company has a market cap of $196.87 billion, a PE ratio of 11.60, a P/E/G ratio of 1.32 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The stock has a 50-day moving average of $55.69 and a 200-day moving average of $57.81.

Wells Fargo & Company (NYSE:WFC) last released its quarterly 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. The business had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. On average, equities research analysts predict that Wells Fargo & Company will post 5.14 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is presently 32.85%.

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.