Wells Fargo & Company (NYSE:WFC) Stock Holdings Raised by Larson Financial Group LLC

Larson Financial Group LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 191.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,032 shares of the financial services provider’s stock after acquiring an additional 3,305 shares during the period. Larson Financial Group LLC’s holdings in Wells Fargo & Company were worth $299,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. John W. Brooker & Co. CPAs increased its position in shares of Wells Fargo & Company by 2.5% during the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 171 shares during the period. McAdam LLC raised its stake in shares of Wells Fargo & Company by 3.3% in the 2nd quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after buying an additional 178 shares in the last quarter. Prentice Wealth Management LLC lifted its holdings in shares of Wells Fargo & Company by 2.0% during the 2nd quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after acquiring an additional 184 shares during the period. Clearstead Trust LLC boosted its position in shares of Wells Fargo & Company by 13.0% during the 1st quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 186 shares in the last quarter. Finally, Fortitude Family Office LLC increased its stake in Wells Fargo & Company by 3.4% in the second quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 193 shares during the period. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 5.0 %

Shares of WFC opened at $54.01 on Friday. The stock’s fifty day simple moving average is $57.31 and its 200-day simple moving average is $57.88. The firm has a market capitalization of $188.30 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.43 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $38.38 and a 12-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.

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 the consensus estimate of $1.29 by $0.04. The company had revenue of $20.69 billion during 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%. Wells Fargo & Company’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.25 EPS. As a group, research analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.40 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. Wells Fargo & Company’s payout ratio is presently 32.85%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. BMO Capital Markets raised their price target 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. Keefe, Bruyette & Woods cut their target price 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. Evercore ISI dropped their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Twelve equities research 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 company. According to data from MarketBeat.com, Wells Fargo & Company has an average rating of “Hold” and an average price target of $60.29.

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.