True Vision MN LLC Increases Stake in Wells Fargo & Company $WFC

True Vision MN LLC raised its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,525 shares of the financial services provider’s stock after buying an additional 138 shares during the period. True Vision MN LLC’s holdings in Wells Fargo & Company were worth $363,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its stake in shares of Wells Fargo & Company by 585.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 322 shares in the last quarter. Motco increased its stake 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 worth $29,000 after purchasing an additional 326 shares in the last quarter. Accent Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the first quarter worth $29,000. 1248 Management LLC purchased a new stake in shares of Wells Fargo & Company in the first quarter worth $31,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of Wells Fargo & Company in the first quarter worth $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Wells Fargo & Company stock opened at $80.63 on Tuesday. The company’s 50-day moving average price is $80.72 and its 200-day moving average price is $76.39. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 1.06. The company has a market cap of $258.29 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25. Wells Fargo & Company has a twelve month low of $56.80 and a twelve month high of $86.65.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $1.54 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 firm had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s payout ratio is 30.82%.

Analyst Ratings Changes

WFC has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Evercore ISI increased their price objective 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. Citigroup increased their price objective on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 23rd. Dbs Bank raised shares of Wells Fargo & Company from a “hold” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley lowered shares of Wells Fargo & Company from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $87.00 to $90.00 in a research report on Monday, September 29th. Nine equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.74.

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.