Joel Isaacson & Co. LLC Acquires 2,580 Shares of Wells Fargo & Company (NYSE:WFC)

Joel Isaacson & Co. LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFCGet Rating) by 11.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,524 shares of the financial services provider’s stock after acquiring an additional 2,580 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Wells Fargo & Company were worth $1,000,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Uncommon Cents Investing LLC grew its holdings in Wells Fargo & Company by 1.2% during the 2nd quarter. Uncommon Cents Investing LLC now owns 128,849 shares of the financial services provider’s stock worth $5,047,000 after acquiring an additional 1,540 shares during the last quarter. Matrix Asset Advisors Inc. NY boosted its stake in shares of Wells Fargo & Company by 0.4% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 252,464 shares of the financial services provider’s stock valued at $9,889,000 after purchasing an additional 1,056 shares during the last quarter. Ritholtz Wealth Management boosted its stake in shares of Wells Fargo & Company by 16.6% in the 2nd quarter. Ritholtz Wealth Management now owns 30,341 shares of the financial services provider’s stock valued at $1,188,000 after purchasing an additional 4,326 shares during the last quarter. Acropolis Investment Management LLC boosted its stake in shares of Wells Fargo & Company by 7.4% in the 2nd quarter. Acropolis Investment Management LLC now owns 4,030 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 277 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of Wells Fargo & Company by 2.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 645,070 shares of the financial services provider’s stock valued at $25,267,000 after purchasing an additional 16,330 shares during the last quarter. 72.23% of the stock is owned by institutional investors.

Wells Fargo & Company Stock Performance

WFC traded down $1.58 during trading on Friday, hitting $39.94. 1,273,055 shares of the company traded hands, compared to its average volume of 14,959,803. The firm has a market cap of $151.49 billion, a P/E ratio of 9.59, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. The stock’s fifty day moving average is $43.88 and its 200 day moving average is $44.46. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.94. Wells Fargo & Company has a one year low of $36.54 and a one year high of $60.30.

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

Wells Fargo & Company Increases Dividend

The firm also recently announced 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 represents a $1.20 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Thursday, August 4th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.25. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 28.78%.

Analysts Set New Price Targets

WFC has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of Wells Fargo & Company from $59.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 18th. Credit Suisse Group dropped their target price on shares of Wells Fargo & Company from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Monday, July 18th. Jefferies Financial Group dropped their target price on shares of Wells Fargo & Company from $55.00 to $47.00 in a research report on Monday, July 11th. Royal Bank of Canada dropped their target price on shares of Wells Fargo & Company from $55.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Friday, July 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wells Fargo & Company from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, September 12th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.97.

Wells Fargo & Company 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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