Wells Fargo & Company (NYSE:WFC) Shares Bought by Highland Private Wealth Management

Highland Private Wealth Management boosted its holdings in shares of Wells Fargo & Company (NYSE:WFCGet Rating) by 28.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,045 shares of the financial services provider’s stock after purchasing an additional 1,333 shares during the period. Highland Private Wealth Management’s holdings in Wells Fargo & Company were worth $237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cornerstone Advisory LLC increased its holdings in Wells Fargo & Company by 2.3% in the fourth quarter. Cornerstone Advisory LLC now owns 8,397 shares of the financial services provider’s stock valued at $403,000 after buying an additional 187 shares in the last quarter. First Financial Bank Trust Division increased its holdings in Wells Fargo & Company by 0.8% in the first quarter. First Financial Bank Trust Division now owns 27,740 shares of the financial services provider’s stock valued at $1,345,000 after buying an additional 212 shares in the last quarter. Mizuho Securities Co. Ltd. increased its holdings in Wells Fargo & Company by 21.8% in the first quarter. Mizuho Securities Co. Ltd. now owns 1,235 shares of the financial services provider’s stock valued at $60,000 after buying an additional 221 shares in the last quarter. PBMares Wealth Management LLC increased its holdings in Wells Fargo & Company by 3.5% in the first quarter. PBMares Wealth Management LLC now owns 6,739 shares of the financial services provider’s stock valued at $327,000 after buying an additional 225 shares in the last quarter. Finally, Fulton Bank N.A. increased its holdings in Wells Fargo & Company by 1.2% in the first quarter. Fulton Bank N.A. now owns 19,370 shares of the financial services provider’s stock valued at $939,000 after buying an additional 229 shares in the last quarter. 72.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WFC shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, September 12th. Royal Bank of Canada cut their target price on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, July 1st. Barclays cut their target price on shares of Wells Fargo & Company from $64.00 to $58.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 18th. Finally, Jefferies Financial Group cut their target price on shares of Wells Fargo & Company from $55.00 to $47.00 in a research note on Monday, July 11th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.97.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $41.52 on Friday. The firm has a market cap of $157.49 billion, a P/E ratio of 9.96, a P/E/G ratio of 1.04 and a beta of 1.16. Wells Fargo & Company has a one year low of $36.54 and a one year high of $60.30. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.80 and a current ratio of 0.81. The firm’s 50 day moving average price is $43.88 and its 200-day moving average price is $44.46.

Wells Fargo & Company (NYSE:WFCGet Rating) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.03). The firm had revenue of $17.03 billion during the quarter, compared to analysts’ expectations of $17.54 billion. Wells Fargo & Company had a net margin of 22.52% and a return on equity of 10.67%. The company’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.38 earnings per share. As a group, equities research analysts predict that Wells Fargo & Company will post 4 EPS for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 5th were given a dividend of $0.30 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, August 4th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 28.78%.

Wells Fargo & Company Profile

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Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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