Marble Harbor Investment Counsel LLC Acquires 1,479 Shares of Wells Fargo & Company (NYSE:WFC)

Marble Harbor Investment Counsel LLC increased its holdings in Wells Fargo & Company (NYSE:WFC) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,168 shares of the financial services provider’s stock after acquiring an additional 1,479 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Wells Fargo & Company were worth $7,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of WFC. 9258 Wealth Management LLC increased its position in Wells Fargo & Company by 4.1% during the 4th quarter. 9258 Wealth Management LLC now owns 12,972 shares of the financial services provider’s stock valued at $638,000 after buying an additional 516 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in shares of Wells Fargo & Company by 93.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 26,467 shares of the financial services provider’s stock valued at $1,246,000 after acquiring an additional 12,778 shares in the last quarter. AMG National Trust Bank increased its holdings in shares of Wells Fargo & Company by 4.5% during the fourth quarter. AMG National Trust Bank now owns 15,803 shares of the financial services provider’s stock valued at $778,000 after acquiring an additional 687 shares in the last quarter. Thoroughbred Financial Services LLC raised its position in shares of Wells Fargo & Company by 9.6% in the 4th quarter. Thoroughbred Financial Services LLC now owns 41,265 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 3,623 shares during the last quarter. Finally, Associated Banc Corp boosted its stake in Wells Fargo & Company by 7.2% in the 4th quarter. Associated Banc Corp now owns 50,607 shares of the financial services provider’s stock worth $2,491,000 after purchasing an additional 3,419 shares in the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on WFC shares. BMO Capital Markets lifted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Keefe, Bruyette & Woods lowered their price objective on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research report on Monday, July 15th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and reduced their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. The Goldman Sachs Group lowered their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, September 3rd. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Wells Fargo & Company presently has an average rating of “Hold” and an average target price of $60.29.

Wells Fargo & Company Stock Performance

NYSE:WFC opened at $52.78 on Monday. 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 stock has a 50-day simple moving average of $56.60 and a two-hundred day simple moving average of $57.93. The firm has a market capitalization of $184.01 billion, a PE ratio of 10.84, a P/E/G ratio of 1.27 and a beta of 1.16. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to analysts’ expectations of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. Analysts forecast that Wells Fargo & Company will post 5.14 EPS for the current 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. This represents a $1.60 annualized dividend and a yield of 3.03%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

About Wells Fargo & Company

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.