Certuity LLC Has $18.21 Million Position in Wells Fargo & Company (NYSE:WFC)

Certuity LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,598 shares of the financial services provider’s stock after buying an additional 2,278 shares during the quarter. Wells Fargo & Company accounts for about 1.4% of Certuity LLC’s portfolio, making the stock its 18th largest holding. Certuity LLC’s holdings in Wells Fargo & Company were worth $18,209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WFC. John W. Brooker & Co. CPAs increased its position in Wells Fargo & Company by 2.5% during the 2nd quarter. John W. Brooker & Co. CPAs now owns 7,075 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 171 shares in the last quarter. McAdam LLC increased its position in Wells Fargo & Company by 3.3% during the 2nd quarter. McAdam LLC now owns 5,609 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 178 shares in the last quarter. Prentice Wealth Management LLC increased its position in Wells Fargo & Company by 2.0% during the 2nd quarter. Prentice Wealth Management LLC now owns 9,426 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 184 shares in the last quarter. Clearstead Trust LLC increased its position in Wells Fargo & Company by 13.0% during the 1st quarter. Clearstead Trust LLC now owns 1,617 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 186 shares in the last quarter. Finally, Fortitude Family Office LLC increased its position in Wells Fargo & Company by 3.4% during the 2nd quarter. Fortitude Family Office LLC now owns 5,897 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 193 shares in the last quarter. 75.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WFC shares. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and lowered their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Tuesday, September 3rd. Keefe, Bruyette & Woods decreased their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, July 15th. Evercore ISI decreased their price target on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday. Finally, BMO Capital Markets upped their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $60.29.

Wells Fargo & Company Stock Down 5.0 %

Shares of NYSE WFC opened at $54.00 on Friday. The firm has a market cap of $188.26 billion, a PE ratio of 11.09, a P/E/G ratio of 1.43 and a beta of 1.16. Wells Fargo & Company has a 12-month low of $38.38 and a 12-month high of $62.55. The company’s fifty day simple moving average is $57.31 and its 200 day simple moving average is $57.93. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. Wells Fargo & Company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, sell-side analysts forecast that Wells Fargo & Company will post 5.15 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 9th. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.96%. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Wells Fargo & Company Company Profile

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.