Wells Fargo & Company $WFC Shares Acquired by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC increased its position in Wells Fargo & Company (NYSE:WFC) by 9.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,450 shares of the financial services provider’s stock after acquiring an additional 477 shares during the period. Mayflower Financial Advisors LLC’s holdings in Wells Fargo & Company were worth $437,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WFC. CBIZ Investment Advisory Services LLC raised its position in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after buying an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of Wells Fargo & Company in the second quarter valued at approximately $27,000. Motco raised its position 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 buying an additional 326 shares during the last quarter. Accent Capital Management LLC acquired a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $29,000. Finally, 1248 Management LLC acquired a new position in shares of Wells Fargo & Company in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

WFC opened at $86.02 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The company has a 50 day moving average of $82.42 and a two-hundred day moving average of $78.27. The company has a market cap of $275.56 billion, a P/E ratio of 14.15, a P/E/G ratio of 1.19 and a beta of 1.25.

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

Wells Fargo & Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be 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 is Friday, November 7th. Wells Fargo & Company’s payout ratio is currently 29.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Citigroup boosted their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 23rd. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 7th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Cowen restated a “hold” rating on shares of Wells Fargo & Company in a report on Wednesday, October 15th. Eleven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.