Tulsa Wealth Advisors INC Takes $2.97 Million Position in Wells Fargo & Company $WFC

Tulsa Wealth Advisors INC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,971 shares of the financial services provider’s stock, valued at approximately $2,973,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WFC. German American Bancorp Inc. bought a new stake in Wells Fargo & Company in the 2nd quarter valued at approximately $256,000. Johnson Wealth Management LLC bought a new position in shares of Wells Fargo & Company during the 2nd quarter worth approximately $277,000. Northstar Financial Companies Inc. acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $418,000. Tillman Hartley LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at approximately $288,000. Finally, Gould Asset Management LLC CA bought a new stake in shares of Wells Fargo & Company in the second quarter worth $344,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WFC shares. Raymond James Financial reiterated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Bank of America raised their price objective on Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Robert W. Baird upped their target price on Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen raised shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Stock Up 0.2%

Shares of WFC opened at $83.83 on Friday. Wells Fargo & Company has a 52 week low of $72.78 and a 52 week high of $97.76. The firm has a market cap of $253.50 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. The firm’s 50-day simple moving average is $86.08 and its 200 day simple moving average is $82.97. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a $0.50 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.4%. Wells Fargo & Company’s dividend payout ratio is presently 29.07%.

Wells Fargo & 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.