Financial Counselors Inc. lifted its stake in Wells Fargo & Company (NYSE:WFC) by 22.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,637 shares of the financial services provider’s stock after acquiring an additional 3,441 shares during the quarter. Financial Counselors Inc.’s holdings in Wells Fargo & Company were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. Core Wealth Advisors Inc. acquired a new position in Wells Fargo & Company in the fourth quarter worth approximately $25,000. Valued Wealth Advisors LLC increased its stake in shares of Wells Fargo & Company by 53.7% during the 2nd quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 220 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter valued at $32,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at $34,000. Finally, Beaird Harris Wealth Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter worth $34,000. 75.90% of the stock is owned by institutional investors and hedge funds.
Wells Fargo & Company Stock Performance
NYSE WFC opened at $58.37 on Wednesday. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. 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 has a market cap of $203.50 billion, a P/E ratio of 11.99, a PEG ratio of 1.43 and a beta of 1.17. The company’s 50-day simple moving average is $57.41 and its 200 day simple moving average is $57.87.
Wells Fargo & Company Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were given a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.74%. Wells Fargo & Company’s dividend payout ratio is 32.85%.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. BMO Capital Markets raised their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Evercore ISI restated 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 upped their price objective on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday. Finally, Keefe, Bruyette & Woods cut their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.41.
Read Our Latest Report on Wells Fargo & Company
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.
Featured Articles
- Five stocks we like better than Wells Fargo & Company
- What Makes a Stock a Good Dividend Stock?
- 3 Small Cap Stocks That Insiders Are Buying
- What is the Nikkei 225 index?
- Analysts Forecast Big Upside for Western Digital—Don’t Miss Out
- Options Trading – Understanding Strike Price
- 3 Must-Own Stocks for Bullish Investors in Today’s Market
Want to see what other hedge funds are holding WFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Wells Fargo & Company (NYSE:WFC – Free Report).
Receive News & Ratings for Wells Fargo & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wells Fargo & Company and related companies with MarketBeat.com's FREE daily email newsletter.