Vanguard Personalized Indexing Management LLC Raises Stake in Wells Fargo & Company (NYSE:WFC)

Vanguard Personalized Indexing Management LLC raised its stake in Wells Fargo & Company (NYSE:WFC) by 15.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 261,247 shares of the financial services provider’s stock after purchasing an additional 34,766 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Wells Fargo & Company were worth $15,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Core Wealth Advisors Inc. purchased a new stake in Wells Fargo & Company in the fourth quarter worth $25,000. Transcendent Capital Group LLC purchased a new stake in shares of Wells Fargo & Company in the fourth quarter worth $32,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company during the fourth quarter valued at $34,000. Valued Wealth Advisors LLC boosted its position in shares of Wells Fargo & Company by 53.7% during the second quarter. Valued Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $37,000 after buying an additional 220 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its position in shares of Wells Fargo & Company by 704.3% during the first quarter. J.Safra Asset Management Corp now owns 740 shares of the financial services provider’s stock valued at $43,000 after buying an additional 648 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 1.4 %

Shares of NYSE WFC opened at $54.54 on Wednesday. The company has a market capitalization of $190.14 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The business has a 50-day moving average of $56.39 and a two-hundred day moving average of $57.92. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts forecast that Wells Fargo & Company will post 5.14 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were issued a $0.40 dividend. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.93%. The ex-dividend date was Friday, August 9th. Wells Fargo & Company’s dividend payout ratio is currently 32.85%.

Analysts Set New Price Targets

A number of research firms have weighed in on WFC. Evercore ISI lowered their target price on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, September 6th. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and decreased their target price for the company from $62.00 to $59.00 in a research note on Friday, August 16th. 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, September 3rd. 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. Finally, The Goldman Sachs Group dropped their target price on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.29.

About Wells Fargo & Company

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.