HF Advisory Group LLC Purchases 6,252 Shares of Wells Fargo & Company $WFC

HF Advisory Group LLC grew its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 11.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,883 shares of the financial services provider’s stock after purchasing an additional 6,252 shares during the quarter. Wells Fargo & Company makes up approximately 1.6% of HF Advisory Group LLC’s holdings, making the stock its 12th biggest position. HF Advisory Group LLC’s holdings in Wells Fargo & Company were worth $5,031,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Wells Fargo & Company by 19.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 532,300 shares of the financial services provider’s stock valued at $49,610,000 after acquiring an additional 84,902 shares during the period. Swiss Life Asset Management Ltd increased its holdings in Wells Fargo & Company by 4.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 350,567 shares of the financial services provider’s stock worth $32,673,000 after acquiring an additional 14,168 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Wells Fargo & Company by 4.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 412,511 shares of the financial services provider’s stock worth $38,446,000 after acquiring an additional 17,302 shares during the period. Norges Bank bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $4,512,563,000. Finally, Winning Points Advisors LLC bought a new stake in Wells Fargo & Company during the 4th quarter worth approximately $3,384,000. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Wells Fargo & Company stock opened at $87.25 on Friday. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. The firm’s fifty day moving average is $84.90 and its 200 day moving average is $83.06. The company has a market cap of $263.86 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.95 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same period last year, the company posted $1.60 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, August 7th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s payout ratio is 26.16%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Keefe, Bruyette & Woods lowered their target price on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upped their target price on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Phillip Securities upgraded Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.