Larry Mathis Financial Planning LLC Makes New $1.04 Million Investment in Wells Fargo & Company $WFC

Larry Mathis Financial Planning LLC bought a new position in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 11,199 shares of the financial services provider’s stock, valued at approximately $1,044,000. Wells Fargo & Company accounts for approximately 0.9% of Larry Mathis Financial Planning LLC’s holdings, making the stock its 26th biggest position.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its stake in Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after purchasing an additional 25,436 shares during the period. Jump Financial LLC boosted its position in shares of Wells Fargo & Company by 12.9% in the second quarter. Jump Financial LLC now owns 22,904 shares of the financial services provider’s stock worth $1,835,000 after buying an additional 2,615 shares during the period. Main Street Financial Solutions LLC grew its holdings in shares of Wells Fargo & Company by 111.0% during the second quarter. Main Street Financial Solutions LLC now owns 14,008 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 7,368 shares in the last quarter. Vivaldi Capital Management LP raised its position in Wells Fargo & Company by 5.4% during the second quarter. Vivaldi Capital Management LP now owns 3,229 shares of the financial services provider’s stock valued at $259,000 after buying an additional 165 shares during the period. Finally, Diversify Advisory Services LLC raised its position in Wells Fargo & Company by 51.2% during the second quarter. Diversify Advisory Services LLC now owns 25,718 shares of the financial services provider’s stock valued at $2,044,000 after buying an additional 8,714 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $82.31 on Friday. The business’s 50-day moving average price is $79.70 and its two-hundred day moving average price is $84.59. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.90 and a quick ratio of 0.90. Wells Fargo & Company has a one year low of $72.78 and a one year high of $97.76. The company has a market capitalization of $251.89 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings results on Tuesday, April 14th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.02. The company had revenue of $11.62 billion during the quarter, compared to the consensus estimate of $21.85 billion. Wells Fargo & Company had a return on equity of 13.27% and a net margin of 17.26%.The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the business earned $1.39 EPS. Analysts anticipate that Wells Fargo & Company will post 6.86 earnings per share for the current fiscal year.

Wells Fargo & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 8th were issued a $0.45 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Wells Fargo & Company’s dividend payout ratio is currently 27.78%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WFC. The Goldman Sachs Group decreased their price objective on Wells Fargo & Company from $109.00 to $93.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Evercore reiterated an “outperform” rating on shares of Wells Fargo & Company in a report on Friday, March 6th. KGI Securities lowered shares of Wells Fargo & Company to a “hold” rating in a research report on Thursday, April 16th. Barclays decreased their price target on shares of Wells Fargo & Company from $113.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, April 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.24.

Wells Fargo & Company Company Profile

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.