St. Louis Financial Planners Asset Management LLC Has $3.42 Million Position in Wells Fargo & Company $WFC

St. Louis Financial Planners Asset Management LLC boosted its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 26.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 39,955 shares of the financial services provider’s stock after acquiring an additional 8,336 shares during the period. Wells Fargo & Company accounts for 1.8% of St. Louis Financial Planners Asset Management LLC’s portfolio, making the stock its 26th largest position. St. Louis Financial Planners Asset Management LLC’s holdings in Wells Fargo & Company were worth $3,417,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Godfrey Financial Associates Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Miller Capital Partners Inc. bought a new position in Wells Fargo & Company during the fourth quarter worth about $25,000. Navalign LLC acquired a new position in shares of Wells Fargo & Company during the 4th quarter worth about $26,000. Joseph Group Capital Management bought a new stake in shares of Wells Fargo & Company in the 4th quarter valued at about $28,000. Finally, Core Wealth Advisors LLC acquired a new stake in shares of Wells Fargo & Company in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a report on Thursday, April 16th. Morgan Stanley raised their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Barclays decreased their target price on Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a research note on Wednesday, April 15th. Finally, UBS Group dropped their price target on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Wells Fargo & Company has a consensus rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $87.57 on Friday. The company has a fifty day moving average price of $84.70 and a 200 day moving average price of $83.03. The firm has a market cap of $264.81 billion, a PE ratio of 12.73, a PEG ratio of 0.97 and a beta of 0.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion for the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 earnings per share. Research analysts predict that Wells Fargo & Company will post 7.26 earnings per share 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. Stockholders of record on Friday, August 7th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.3%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio (DPR) is 26.16%.

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.