Silver Oak Securities Incorporated Raises Stock Holdings in Wells Fargo & Company $WFC

Silver Oak Securities Incorporated boosted its position in shares of Wells Fargo & Company (NYSE:WFC) by 231.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 10,335 shares of the financial services provider’s stock after acquiring an additional 7,216 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Wells Fargo & Company were worth $866,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Goldstein Advisors LLC purchased a new position in shares of Wells Fargo & Company in the third quarter worth about $235,000. Golden State Equity Partners boosted its position in Wells Fargo & Company by 1.3% in the third quarter. Golden State Equity Partners now owns 34,736 shares of the financial services provider’s stock valued at $2,912,000 after buying an additional 461 shares during the last quarter. Invesco LLC acquired a new position in Wells Fargo & Company in the 3rd quarter worth approximately $212,000. Coastline Trust Co raised its position in Wells Fargo & Company by 3.2% during the 3rd quarter. Coastline Trust Co now owns 7,196 shares of the financial services provider’s stock worth $603,000 after buying an additional 220 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new position in Wells Fargo & Company during the 3rd quarter worth approximately $76,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 2.1%

WFC opened at $95.15 on Friday. Wells Fargo & Company has a fifty-two week low of $58.42 and a fifty-two week high of $95.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average of $88.82 and a two-hundred day moving average of $83.76. The stock has a market capitalization of $298.68 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.87 and a beta of 1.09.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The business had revenue of $21.44 billion for the quarter, compared to analyst estimates of $21.11 billion. During the same period in the prior year, the company posted $1.42 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were given a dividend of $0.45 per share. The ex-dividend date was Friday, November 7th. This represents a $1.80 dividend on an annualized basis and a yield of 1.9%. Wells Fargo & Company’s dividend payout ratio is currently 29.61%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a report on Tuesday, October 21st. Morgan Stanley boosted their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 15th. UBS Group lowered their price target on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 7th. Barclays lifted their price objective on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Finally, Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a report on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.04.

About Wells Fargo & Company

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.