Oxford Financial Group LTD. LLC Acquires New Position in Wells Fargo & Company $WFC

Oxford Financial Group LTD. LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,457 shares of the financial services provider’s stock, valued at approximately $534,000.

Other institutional investors have also recently bought and sold shares of the company. Godfrey Financial Associates Inc. acquired a new position in shares of Wells Fargo & Company in the 4th quarter valued at $25,000. Miller Capital Partners Inc. acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company during the fourth quarter worth $26,000. Joseph Group Capital Management bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $28,000. Finally, Core Wealth Advisors LLC bought a new stake in Wells Fargo & Company in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $84.70 on Tuesday. The stock’s fifty day simple moving average is $86.11 and its 200 day simple moving average is $82.85. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $256.13 billion, a PE ratio of 12.31, a PEG ratio of 0.91 and a beta of 0.92. Wells Fargo & Company has a 12 month low of $72.78 and a 12 month high of $97.76.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $21.86 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 7.26 EPS for the current year.

Wells Fargo & Company Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WFC. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Morgan Stanley increased their price target on shares of Wells Fargo & Company from $97.00 to $102.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Truist Financial lifted their price objective on shares of Wells Fargo & Company from $90.00 to $94.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.61.

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.