Liberty Wealth Management LLC Raises Stock Holdings in Wells Fargo & Company (NYSE:WFC)

Liberty Wealth Management LLC boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 2.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 12,150 shares of the financial services provider’s stock after acquiring an additional 282 shares during the quarter. Liberty Wealth Management LLC’s holdings in Wells Fargo & Company were worth $722,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in WFC. 9258 Wealth Management LLC lifted its holdings in Wells Fargo & Company by 4.1% in the fourth quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock worth $638,000 after buying an additional 516 shares during the period. Gryphon Financial Partners LLC lifted its stake in shares of Wells Fargo & Company by 93.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock valued at $1,246,000 after purchasing an additional 12,778 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Wells Fargo & Company by 9.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 170,410 shares of the financial services provider’s stock valued at $8,388,000 after purchasing an additional 15,126 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Wells Fargo & Company by 11.3% during the fourth quarter. Avantax Advisory Services Inc. now owns 124,265 shares of the financial services provider’s stock valued at $6,116,000 after purchasing an additional 12,614 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Wells Fargo & Company by 2.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,847,713 shares of the financial services provider’s stock worth $90,944,000 after purchasing an additional 51,521 shares during the period. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.1 %

WFC opened at $54.60 on Tuesday. The stock has a market cap of $185.85 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. The firm’s fifty day moving average is $57.19 and its 200 day moving average is $57.97. Wells Fargo & Company has a fifty-two week low of $38.38 and a fifty-two week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released 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. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The firm had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. During the same quarter last year, the business posted $1.25 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.40 dividend. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Analysts Set New Price Targets

A number of brokerages have recently commented on WFC. Jefferies Financial Group cut shares of Wells Fargo & Company to a “hold” rating and dropped their target price for the company from $62.00 to $59.00 in a report on Friday, August 16th. Evercore ISI cut their price objective on shares of Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday. Morgan Stanley boosted their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. BMO Capital Markets lifted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research note on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Tuesday, September 3rd. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $60.29.

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.