Intelligence Driven Advisers LLC Purchases New Holdings in Wells Fargo & Company (NYSE:WFC)

Intelligence Driven Advisers LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,385 shares of the financial services provider’s stock, valued at approximately $439,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Slagle Financial LLC boosted its stake in shares of Wells Fargo & Company by 97.3% during the 4th quarter. Slagle Financial LLC now owns 138,594 shares of the financial services provider’s stock worth $6,822,000 after acquiring an additional 68,356 shares in the last quarter. Ballentine Partners LLC raised its position in shares of Wells Fargo & Company by 5.4% during the 1st quarter. Ballentine Partners LLC now owns 35,785 shares of the financial services provider’s stock worth $2,074,000 after purchasing an additional 1,835 shares during the last quarter. Wedmont Private Capital raised its position in shares of Wells Fargo & Company by 16.4% during the 1st quarter. Wedmont Private Capital now owns 152,910 shares of the financial services provider’s stock worth $8,805,000 after purchasing an additional 21,496 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Wells Fargo & Company by 61.7% during the 4th quarter. Quadrant Capital Group LLC now owns 41,268 shares of the financial services provider’s stock worth $2,031,000 after purchasing an additional 15,742 shares during the last quarter. Finally, Pacific Global Investment Management Co. raised its position in shares of Wells Fargo & Company by 13.4% during the 4th quarter. Pacific Global Investment Management Co. now owns 13,680 shares of the financial services provider’s stock worth $673,000 after purchasing an additional 1,620 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Down 5.0 %

Wells Fargo & Company stock traded down $2.86 during trading on Friday, reaching $54.00. 21,853,782 shares of the company’s stock were exchanged, compared to its average volume of 17,798,791. The company’s 50-day moving average is $57.31 and its two-hundred day moving average is $57.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.85 and a current ratio of 0.86. Wells Fargo & Company has a 52-week low of $38.38 and a 52-week high of $62.55. The firm has a market cap of $188.26 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.43 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company 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 firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 EPS. On average, analysts predict that Wells Fargo & Company will post 5.15 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were given a dividend of $0.40 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 32.85%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Evercore ISI cut their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday. Keefe, Bruyette & Woods cut their price target on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating for the company in a report on Monday, July 15th. BMO Capital Markets boosted their price target on Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft upgraded Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday. Finally, Morgan Stanley boosted their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Profile

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.