ST Germain D J Co. Inc. Grows Stock Holdings in Wells Fargo & Company $WFC

ST Germain D J Co. Inc. lifted its stake in shares of Wells Fargo & Company (NYSE:WFC) by 5.7% during the second quarter, HoldingsChannel.com reports. The fund owned 342,501 shares of the financial services provider’s stock after buying an additional 18,413 shares during the quarter. Wells Fargo & Company makes up approximately 1.2% of ST Germain D J Co. Inc.’s investment portfolio, making the stock its 22nd biggest holding. ST Germain D J Co. Inc.’s holdings in Wells Fargo & Company were worth $27,441,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after buying an additional 322 shares during the period. Motco raised its holdings in shares of Wells Fargo & Company by 397.6% in the first quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new stake in Wells Fargo & Company in the first quarter worth about $29,000. 1248 Management LLC bought a new position in Wells Fargo & Company during the 1st quarter worth about $31,000. Finally, Stone House Investment Management LLC purchased a new position in Wells Fargo & Company during the 1st quarter valued at about $34,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WFC shares. Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research report on Thursday, July 17th. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Wall Street Zen upgraded Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Finally, Citigroup boosted their price target on Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday. Ten research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.97.

Wells Fargo & Company Trading Up 0.2%

Shares of Wells Fargo & Company stock opened at $84.31 on Friday. The firm’s 50 day simple moving average is $80.76 and its two-hundred day simple moving average is $75.74. The firm has a market capitalization of $270.08 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.30 and a beta of 1.25. Wells Fargo & Company has a 12-month low of $53.31 and a 12-month high of $86.65. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.33 earnings per share. Analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date was Friday, August 8th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

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.