Fairscale Capital LLC Takes $47,000 Position in Wells Fargo & Company (NYSE:WFC)

Fairscale Capital LLC bought a new position in shares of Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 780 shares of the financial services provider’s stock, valued at approximately $47,000.

Several other institutional investors have also modified their holdings of WFC. Core Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company during the 4th quarter worth approximately $25,000. Transcendent Capital Group LLC purchased a new position in shares of Wells Fargo & Company during the 4th quarter valued at approximately $32,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth approximately $34,000. Valued Wealth Advisors LLC increased its stake in shares of Wells Fargo & Company by 53.7% in the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $37,000 after buying an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its holdings in Wells Fargo & Company by 704.3% in the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 648 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and decreased their price target for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. 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 research note on Wednesday, September 11th. BMO Capital Markets lifted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research report on Thursday, July 11th. Finally, Morgan Stanley boosted their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Trading Up 0.9 %

Shares of NYSE:WFC opened at $56.29 on Monday. 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 company’s 50-day moving average price is $56.19 and its 200 day moving average price is $57.90. The company has a market cap of $196.24 billion, a PE ratio of 11.56, a P/E/G ratio of 1.27 and a beta of 1.16. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55.

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 for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. During the same quarter in the previous year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts anticipate that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently declared 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 represents a $1.60 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is 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.