SGL Investment Advisors Inc. Invests $544,000 in Wells Fargo & Company $WFC

SGL Investment Advisors Inc. bought a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, HoldingsChannel reports. The institutional investor bought 6,214 shares of the financial services provider’s stock, valued at approximately $544,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Godfrey Financial Associates Inc. purchased a new position in Wells Fargo & Company during the fourth quarter worth $25,000. Miller Capital Partners Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $28,000. Finally, Phillip James Consulting Co. purchased a new stake in Wells Fargo & Company during the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.0%

Shares of NYSE:WFC opened at $84.70 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.09. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a 50 day moving average of $86.11 and a two-hundred day moving average of $82.85. The company has a market capitalization of $256.13 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. The business had revenue of $22.62 billion for the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 earnings per share. As a group, analysts forecast that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.07%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Keefe, Bruyette & Woods cut their price objective on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday, July 15th. JPMorgan Chase & Co. upped their price objective on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. UBS Group lowered their price objective on Wells Fargo & Company from $105.00 to $104.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Finally, Robert W. Baird upped their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Wells Fargo & Company currently has a consensus rating of “Moderate Buy” and an average price target of $98.61.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.