Jaffetilchin Investment Partners LLC Purchases 262 Shares of Wells Fargo & Company (NYSE:WFC)

Jaffetilchin Investment Partners LLC grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 22,258 shares of the financial services provider’s stock after acquiring an additional 262 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Wells Fargo & Company were worth $1,322,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. bought a new stake in Wells Fargo & Company during the fourth quarter worth about $25,000. Transcendent Capital Group LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $34,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $34,000. Finally, VisionPoint Advisory Group LLC lifted its stake in shares of Wells Fargo & Company by 180.4% in the 4th quarter. VisionPoint Advisory Group LLC now owns 715 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 460 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WFC. BMO Capital Markets boosted their target price on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. Keefe, Bruyette & Woods reduced their price target 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. Evercore ISI restated an “outperform” rating and set a $67.00 price target (down previously from $70.00) on shares of Wells Fargo & Company in a report on Monday, July 15th. 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. Thirteen investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.63.

Wells Fargo & Company Stock Up 2.0 %

Shares of Wells Fargo & Company stock traded up $1.12 during midday trading on Friday, hitting $58.47. The company had a trading volume of 20,377,255 shares, compared to its average volume of 17,823,389. 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 stock has a market capitalization of $203.84 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.40 and a beta of 1.17. The company has a 50 day moving average of $57.40 and a 200 day moving average of $57.65. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly 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 company had revenue of $20.69 billion for the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 EPS. On average, equities analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.74%. Wells Fargo & Company’s dividend 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.