2,670 Shares in Wells Fargo & Company $WFC Acquired by IFC Advisors LLC

IFC Advisors LLC acquired a new position in Wells Fargo & Company (NYSE:WFC) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,670 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC lifted its position in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 322 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the second quarter valued at about $27,000. Motco grew 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 purchasing an additional 326 shares during the last quarter. Accent Capital Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at about $29,000. Finally, 1248 Management LLC acquired a new stake in shares of Wells Fargo & Company in the first quarter valued at about $31,000. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of several research reports. Raymond James Financial cut shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Evercore ISI raised their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Cowen restated a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Finally, Morgan Stanley cut shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $87.00 to $90.00 in a research note on Monday, September 29th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $85.41.

Wells Fargo & Company Price Performance

WFC opened at $78.92 on Tuesday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $86.65. The firm has a market capitalization of $252.80 billion, a PE ratio of 13.51, a P/E/G ratio of 1.25 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.83 and a current ratio of 0.84. The company has a fifty day moving average price of $80.66 and a two-hundred day moving average price of $76.61.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.13. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The company had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the previous year, the business earned $1.33 EPS. The firm’s revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a $0.45 dividend. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 30.82%.

Wells Fargo & Company Profile

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.