Coastal Bridge Advisors LLC Has $781,000 Stock Position in Wells Fargo & Company (NYSE:WFC)

Coastal Bridge Advisors LLC increased its stake in Wells Fargo & Company (NYSE:WFC) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,882 shares of the financial services provider’s stock after acquiring an additional 330 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Wells Fargo & Company were worth $781,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Shakespeare Wealth Management LLC increased its holdings in shares of Wells Fargo & Company by 0.9% during the fourth quarter. Shakespeare Wealth Management LLC now owns 13,839 shares of the financial services provider’s stock valued at $972,000 after acquiring an additional 130 shares in the last quarter. Safeguard Investment Advisory Group LLC grew its holdings in Wells Fargo & Company by 2.4% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 5,839 shares of the financial services provider’s stock worth $410,000 after buying an additional 137 shares in the last quarter. Summit Wealth & Retirement Planning Inc. boosted its position in Wells Fargo & Company by 4.3% in the first quarter. Summit Wealth & Retirement Planning Inc. now owns 3,362 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 139 shares during the last quarter. Nwam LLC boosted its position in Wells Fargo & Company by 1.6% in the first quarter. Nwam LLC now owns 8,806 shares of the financial services provider’s stock worth $632,000 after purchasing an additional 142 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its position in Wells Fargo & Company by 0.6% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 22,501 shares of the financial services provider’s stock worth $1,580,000 after purchasing an additional 144 shares during the last quarter. 75.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Wells Fargo & Company from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Raymond James Financial lowered Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Citigroup reissued a “neutral” rating on shares of Wells Fargo & Company in a report on Tuesday, July 8th. Finally, TD Cowen began coverage on Wells Fargo & Company in a report on Thursday, May 15th. They set a “hold” rating and a $83.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Wells Fargo & Company has an average rating of “Moderate Buy” and an average price target of $80.39.

Wells Fargo & Company Trading Down 1.0%

NYSE WFC opened at $81.79 on Thursday. The stock has a market cap of $266.16 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.29 and a beta of 1.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a 50 day simple moving average of $78.31 and a two-hundred day simple moving average of $74.83. Wells Fargo & Company has a fifty-two week low of $50.15 and a fifty-two week high of $84.83.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The company had revenue of $20.82 billion during the quarter, compared to analysts’ expectations of $20.83 billion. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 EPS. On average, analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Friday, August 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is 27.40%.

Wells Fargo & Company declared that its board has authorized a share buyback plan on Tuesday, April 29th that authorizes the company to buyback $40.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 17.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Wells Fargo & Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.