TRB Wealth Management LLC Makes New $899,000 Investment in Wells Fargo & Company $WFC

TRB Wealth Management LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,876 shares of the financial services provider’s stock, valued at approximately $899,000.

A number of other institutional investors have also recently made changes to their positions in the business. Nixon Peabody Trust Co. grew its position in Wells Fargo & Company by 3.6% in the fourth quarter. Nixon Peabody Trust Co. now owns 3,351 shares of the financial services provider’s stock worth $312,000 after acquiring an additional 115 shares in the last quarter. MFA Wealth Services raised its position in Wells Fargo & Company by 0.7% during the second quarter. MFA Wealth Services now owns 16,712 shares of the financial services provider’s stock valued at $1,381,000 after purchasing an additional 115 shares during the period. Simmons Bank lifted its stake in shares of Wells Fargo & Company by 1.9% in the 4th quarter. Simmons Bank now owns 6,359 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 116 shares during the last quarter. Wood Tarver Financial Group LLC boosted its holdings in shares of Wells Fargo & Company by 1.6% in the 4th quarter. Wood Tarver Financial Group LLC now owns 7,754 shares of the financial services provider’s stock worth $722,000 after purchasing an additional 120 shares during the period. Finally, Hidden Cove Wealth Management LLC boosted its holdings in shares of Wells Fargo & Company by 1.8% in the 2nd quarter. Hidden Cove Wealth Management LLC now owns 6,846 shares of the financial services provider’s stock worth $566,000 after purchasing an additional 124 shares during the period. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several recent research reports. Morgan Stanley increased their price target on Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Bank of America increased their target price on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Robert W. Baird lifted their price target on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Wells Fargo & Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.61.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $84.82 on Wednesday. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $256.51 billion, a P/E ratio of 12.33, a P/E/G ratio of 0.92 and a beta of 0.92. The stock has a 50 day moving average price of $86.11 and a 200 day moving average price of $82.79.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.Wells Fargo & Company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.50 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 7th. Wells Fargo & Company’s payout ratio is presently 29.07%.

Wells Fargo & Company Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.