Means Investment CO. Inc. Has $566,000 Position in Wells Fargo & Company $WFC

Means Investment CO. Inc. boosted its position in Wells Fargo & Company (NYSE:WFC) by 2.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,067 shares of the financial services provider’s stock after purchasing an additional 183 shares during the quarter. Means Investment CO. Inc.’s holdings in Wells Fargo & Company were worth $566,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock worth $4,652,000 after acquiring an additional 25,436 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Wells Fargo & Company by 296.5% during the 1st quarter. Harbor Capital Advisors Inc. now owns 686 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 513 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Wells Fargo & Company by 11.3% during the first quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider’s stock worth $3,393,000 after purchasing an additional 4,786 shares during the period. West Branch Capital LLC raised its position in shares of Wells Fargo & Company by 28.5% in the first quarter. West Branch Capital LLC now owns 22,091 shares of the financial services provider’s stock valued at $1,586,000 after buying an additional 4,904 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC raised its position in shares of Wells Fargo & Company by 16.3% in the first quarter. Elevation Point Wealth Partners LLC now owns 33,210 shares of the financial services provider’s stock valued at $2,384,000 after buying an additional 4,643 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on WFC shares. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday. Raymond James Financial cut Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 7th. Phillip Securities cut shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. The Goldman Sachs Group decreased their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Citigroup upped their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. Nine equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.41.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $77.74 on Friday. The firm has a market capitalization of $249.04 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.25 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average price is $80.63 and its 200-day moving average price is $76.53. Wells Fargo & Company has a 12 month low of $58.42 and a 12 month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same quarter last year, the business earned $1.33 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

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