HFG Advisors Inc. Makes New Investment in Wells Fargo & Company $WFC

HFG Advisors Inc. bought a new position in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 4,038 shares of the financial services provider’s stock, valued at approximately $324,000.

A number of other institutional investors have also recently made changes to their positions in the business. Wealth Management Partners LLC raised its position in Wells Fargo & Company by 3.5% during the second quarter. Wealth Management Partners LLC now owns 3,805 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 128 shares during the period. Verum Partners LLC increased its position in shares of Wells Fargo & Company by 1.8% during the 2nd quarter. Verum Partners LLC now owns 7,265 shares of the financial services provider’s stock valued at $582,000 after purchasing an additional 128 shares during the last quarter. Motive Wealth Advisors lifted its position in Wells Fargo & Company by 3.7% in the second quarter. Motive Wealth Advisors now owns 3,655 shares of the financial services provider’s stock worth $293,000 after buying an additional 129 shares during the last quarter. Exencial Wealth Advisors LLC boosted its stake in Wells Fargo & Company by 0.7% during the second quarter. Exencial Wealth Advisors LLC now owns 18,009 shares of the financial services provider’s stock worth $1,443,000 after buying an additional 131 shares during the period. Finally, Yukon Wealth Management Inc. increased its position in Wells Fargo & Company by 4.3% during the second quarter. Yukon Wealth Management Inc. now owns 3,179 shares of the financial services provider’s stock valued at $255,000 after acquiring an additional 132 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Down 0.3%

Shares of NYSE WFC opened at $87.06 on Wednesday. Wells Fargo & Company has a 1-year low of $58.42 and a 1-year high of $88.50. The business has a fifty day moving average price of $83.00 and a 200 day moving average price of $79.01. The stock has a market capitalization of $278.89 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84.

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

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Analysts Set New Price Targets

A number of analysts recently weighed in on WFC shares. Cowen reissued a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Phillip Securities lowered Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Keefe, Bruyette & Woods boosted their target price on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “market perform” rating in a research note on Wednesday, October 15th. Morgan Stanley raised their price target on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Finally, Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research report on Tuesday, October 21st. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company 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.