7,385 Shares in Wells Fargo & Company (NYSE:WFC) Purchased by Intelligence Driven Advisers LLC

Intelligence Driven Advisers LLC acquired a new position in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, HoldingsChannel reports. The firm acquired 7,385 shares of the financial services provider’s stock, valued at approximately $439,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. John W. Brooker & Co. CPAs increased its stake in shares of Wells Fargo & Company by 2.5% in the second quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 171 shares during the period. McAdam LLC increased its stake in shares of Wells Fargo & Company by 3.3% in the second quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 178 shares during the period. Prentice Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 2.0% in the second quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 184 shares in the last quarter. Clearstead Trust LLC boosted its holdings in shares of Wells Fargo & Company by 13.0% in the first quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 186 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in shares of Wells Fargo & Company by 3.4% in the second quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock valued at $350,000 after acquiring an additional 193 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WFC. BMO Capital Markets increased their price objective on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods decreased their price objective on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. Evercore ISI decreased their price objective on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and decreased their price objective for the company from $62.00 to $59.00 in a report on Friday, August 16th. Finally, Morgan Stanley raised their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Stock Down 5.0 %

WFC stock traded down $2.86 during midday trading on Friday, reaching $54.00. The company had a trading volume of 21,853,782 shares, compared to its average volume of 17,798,791. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $188.26 billion, a P/E ratio of 11.09, a PEG ratio of 1.43 and a beta of 1.16. The company has a 50 day moving average of $57.31 and a two-hundred day moving average of $57.88.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a $0.40 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.