Signaturefd LLC Buys 2,922 Shares of Wells Fargo & Company (NYSE:WFC)

Signaturefd LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,166 shares of the financial services provider’s stock after acquiring an additional 2,922 shares during the period. Signaturefd LLC’s holdings in Wells Fargo & Company were worth $3,276,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Core Wealth Advisors Inc. acquired a new position in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth about $32,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Wells Fargo & Company during the 4th quarter valued at about $34,000. Beaird Harris Wealth Management LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $34,000. Finally, VisionPoint Advisory Group LLC raised its position in Wells Fargo & Company by 180.4% in the fourth quarter. VisionPoint Advisory Group LLC now owns 715 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 460 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WFC shares. Keefe, Bruyette & Woods decreased their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Morgan Stanley boosted their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. BMO Capital Markets increased their price objective on 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. Evercore ISI restated an “outperform” rating and issued a $67.00 target price (down previously from $70.00) on shares of Wells Fargo & Company in a research note on Monday, July 15th. Finally, Jefferies Financial Group cut 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. Thirteen research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.63.

Wells Fargo & Company Stock Up 2.0 %

Shares of WFC traded up $1.12 on Friday, hitting $58.47. The company’s stock had a trading volume of 20,068,054 shares, compared to its average volume of 17,823,389. The firm’s fifty day moving average price is $57.39 and its 200-day moving average price is $57.59. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55. 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 firm has a market capitalization of $203.84 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.40 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share 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 for the quarter, compared to analyst estimates of $20.29 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up .8% on a year-over-year basis. On average, equities research analysts expect that Wells Fargo & Company will post 5.14 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a yield of 2.74%. 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.