All Terrain Financial Advisors LLC increased its position in Wells Fargo & Co (NYSE:WFC) by 23.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,936 shares of the financial services provider’s stock after purchasing an additional 1,504 shares during the quarter. All Terrain Financial Advisors LLC’s holdings in Wells Fargo & Co were worth $440,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Coyle Financial Counsel LLC purchased a new stake in Wells Fargo & Co during the first quarter worth $101,000. Landaas & Co. WI ADV purchased a new stake in Wells Fargo & Co during the second quarter worth $117,000. Turim 21 Investimentos Ltda. purchased a new stake in Wells Fargo & Co during the first quarter worth $177,000. Stelac Advisory Services LLC lifted its holdings in Wells Fargo & Co by 99.3% during the first quarter. Stelac Advisory Services LLC now owns 3,581 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,784 shares during the period. Finally, Diligent Investors LLC purchased a new stake in Wells Fargo & Co during the second quarter worth $200,000. 75.76% of the stock is currently owned by institutional investors.
Shares of WFC opened at $54.73 on Friday. Wells Fargo & Co has a 12 month low of $50.26 and a 12 month high of $66.31. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 1.22. The firm has a market cap of $272.86 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.12.
Wells Fargo & Co (NYSE:WFC) last issued its quarterly earnings data on Friday, July 13th. The financial services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.04). Wells Fargo & Co had a net margin of 22.03% and a return on equity of 12.38%. The business had revenue of $21.55 billion for the quarter, compared to analysts’ expectations of $21.52 billion. analysts forecast that Wells Fargo & Co will post 4.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 1st. Stockholders of record on Friday, August 10th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, August 9th. This is a positive change from Wells Fargo & Co’s previous quarterly dividend of $0.39. Wells Fargo & Co’s dividend payout ratio is currently 41.85%.
In related news, EVP Avid Modjtabai sold 100,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $58.71, for a total value of $5,871,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hope A. Hardison sold 25,000 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $58.01, for a total value of $1,450,250.00. Following the completion of the transaction, the executive vice president now directly owns 109 shares in the company, valued at $6,323.09. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
A number of analysts have weighed in on the company. Zacks Investment Research upgraded Wells Fargo & Co from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Thursday, July 19th. Susquehanna Bancshares set a $63.00 target price on Wells Fargo & Co and gave the stock a “hold” rating in a report on Friday, July 13th. Keefe, Bruyette & Woods upgraded Wells Fargo & Co from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $57.00 to $63.00 in a report on Sunday, July 15th. They noted that the move was a valuation call. Macquarie lowered Wells Fargo & Co from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. They noted that the move was a valuation call. Finally, Morgan Stanley lowered their target price on Wells Fargo & Co from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $63.34.
Wells Fargo & Co Company Profile
Wells Fargo & Company, a diversified financial services company, provides retail, commercial, and corporate banking services to individuals, businesses, and institutions. The company's Community Banking segment offers checking and savings accounts; credit and debit cards; and automobile, student, mortgage, home equity, and small business loans.
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