Wells Fargo & Company (NYSE:WFC) Shares Acquired by Mine & Arao Wealth Creation & Management LLC.

Mine & Arao Wealth Creation & Management LLC. increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 1.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 32,594 shares of the financial services provider’s stock after purchasing an additional 526 shares during the period. Wells Fargo & Company makes up approximately 0.9% of Mine & Arao Wealth Creation & Management LLC.’s holdings, making the stock its 17th biggest holding. Mine & Arao Wealth Creation & Management LLC.’s holdings in Wells Fargo & Company were worth $1,936,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Chicago Capital LLC grew its stake in shares of Wells Fargo & Company by 82.0% during the second quarter. Chicago Capital LLC now owns 19,969 shares of the financial services provider’s stock valued at $1,186,000 after acquiring an additional 9,000 shares in the last quarter. Intelligence Driven Advisers LLC purchased a new position in Wells Fargo & Company in the second quarter valued at about $439,000. Lake Street Advisors Group LLC grew its stake in Wells Fargo & Company by 1.0% during the 2nd quarter. Lake Street Advisors Group LLC now owns 25,167 shares of the financial services provider’s stock valued at $1,495,000 after purchasing an additional 246 shares in the last quarter. SFE Investment Counsel purchased a new stake in Wells Fargo & Company during the 2nd quarter worth approximately $202,000. Finally, Addison Advisors LLC raised its position in shares of Wells Fargo & Company by 17.5% in the 2nd quarter. Addison Advisors LLC now owns 1,767 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 263 shares in the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

WFC stock traded down $2.86 during mid-day 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 one year low of $38.38 and a one year high of $62.55. The stock has a market capitalization of $188.26 billion, a P/E ratio of 11.09, a P/E/G ratio of 1.43 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. The stock’s 50-day simple moving average is $57.31 and its two-hundred day simple moving average is $57.88.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $20.29 billion. During the same period in the previous year, the business posted $1.25 EPS. Wells Fargo & Company’s revenue was up .8% on a year-over-year basis. Research analysts anticipate that Wells Fargo & Company will post 5.15 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

Analysts Set New Price Targets

WFC has been the subject of a number of research analyst reports. BMO Capital Markets lifted their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a research note on Thursday, July 11th. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Morgan Stanley upped their target price on shares of Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods decreased their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.29.

About Wells Fargo & Company

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.