Wealth Watch Advisors INC Takes $147,000 Position in Wells Fargo & Company $WFC

Wealth Watch Advisors INC bought a new position in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,829 shares of the financial services provider’s stock, valued at approximately $147,000.

Several other institutional investors also recently bought and sold shares of the stock. Wealth Management Partners LLC boosted its holdings in shares of Wells Fargo & Company by 3.5% during the 2nd quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 128 shares during the last quarter. Verum Partners LLC lifted its position in shares of Wells Fargo & Company by 1.8% in the second quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock worth $582,000 after buying an additional 128 shares in the last quarter. Motive Wealth Advisors boosted its stake in Wells Fargo & Company by 3.7% during the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock valued at $293,000 after buying an additional 129 shares during the last quarter. Exencial Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 0.7% during the second quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock valued at $1,443,000 after buying an additional 131 shares during the last quarter. Finally, Yukon Wealth Management Inc. grew its holdings in Wells Fargo & Company by 4.3% during the 2nd quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock valued at $255,000 after buying an additional 132 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Trading Up 2.2%

WFC stock opened at $86.35 on Monday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The stock has a market capitalization of $276.61 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The firm’s fifty day simple moving average is $81.89 and its two-hundred day simple moving average is $77.80.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.11. The firm had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.42 EPS. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s payout ratio is currently 29.61%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday. UBS Group dropped their price objective on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 7th. Finally, Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.57.

About Wells Fargo & Company

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.