Wells Fargo & Company (NYSE:WFC) Position Increased by Great Waters Wealth Management

Great Waters Wealth Management increased its stake in Wells Fargo & Company (NYSE:WFC) by 2.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,839 shares of the financial services provider’s stock after acquiring an additional 187 shares during the period. Great Waters Wealth Management’s holdings in Wells Fargo & Company were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. John W. Brooker & Co. CPAs grew its stake in shares of Wells Fargo & Company by 2.5% in the 2nd 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 grew its position in Wells Fargo & Company by 3.3% during the 2nd quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after acquiring an additional 178 shares during the last quarter. Eclectic Associates Inc. ADV grew its position in Wells Fargo & Company by 1.2% during the 3rd quarter. Eclectic Associates Inc. ADV now owns 15,452 shares of the financial services provider’s stock worth $873,000 after acquiring an additional 178 shares during the last quarter. Prentice Wealth Management LLC grew its position in 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 last quarter. Finally, Clearstead Trust LLC grew its position in 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 worth $94,000 after acquiring an additional 186 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WFC shares. The Goldman Sachs Group decreased their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods reduced their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Morgan Stanley reduced their price objective on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, September 30th. BMO Capital Markets upped their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Finally, Evercore ISI upped their price objective on Wells Fargo & Company from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Wednesday. Twelve 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 currently has a consensus rating of “Hold” and a consensus price target of $60.41.

Wells Fargo & Company Trading Up 3.6 %

WFC stock traded up $1.98 during midday trading on Friday, hitting $56.96. 14,594,449 shares of the company’s stock were exchanged, compared to its average volume of 18,007,127. The stock’s fifty day moving average price is $55.36 and its 200-day moving average price is $57.75. 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 company has a market cap of $198.58 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.32 and a beta of 1.16. Wells Fargo & Company has a one year low of $38.58 and a one year 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 for the quarter, topping the consensus estimate of $1.29 by $0.04. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. Research analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s payout ratio is 32.85%.

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.