Wealthspan Partners LLC Makes New Investment in Wells Fargo & Company $WFC

Wealthspan Partners LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,120 shares of the financial services provider’s stock, valued at approximately $919,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Godfrey Financial Associates Inc. bought a new stake in shares of Wells Fargo & Company during the 4th quarter valued at approximately $25,000. Miller Capital Partners Inc. acquired a new stake in Wells Fargo & Company in the fourth quarter valued at $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company during the fourth quarter worth about $26,000. Joseph Group Capital Management bought a new position in Wells Fargo & Company during the 4th quarter worth approximately $28,000. Finally, Phillip James Consulting Co. bought a new position in Wells Fargo & Company during the first quarter worth $28,000. Institutional investors own 75.90% of the company’s stock.

Wall Street Analyst Weigh In

WFC has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Weiss Ratings restated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Raymond James Financial reaffirmed a “market perform” rating on shares of Wells Fargo & Company in a research report on Tuesday, July 14th. Keefe, Bruyette & Woods reduced their price objective on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research note on Wednesday, July 15th. Finally, Bank of America raised their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.61.

Wells Fargo & Company Stock Performance

Shares of NYSE WFC opened at $83.83 on Friday. The stock has a market cap of $253.50 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 0.91 and a beta of 0.92. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The stock’s 50-day moving average is $86.08 and its 200 day moving average is $82.97. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09.

Wells Fargo & Company (NYSE:WFC) last announced 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. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm had revenue of $22.62 billion for the quarter, compared to analysts’ expectations of $21.86 billion. During the same period last year, the firm earned $1.60 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Wells Fargo & Company will post 7.26 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.4%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. Wells Fargo & Company’s dividend payout ratio (DPR) 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.