Eaton Financial Holdings Company LLC Buys Shares of 19,388 Wells Fargo & Company $WFC

Eaton Financial Holdings Company LLC bought a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,388 shares of the financial services provider’s stock, valued at approximately $1,553,000.

Other large investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Wells Fargo & Company by 62.3% during the fourth quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider’s stock valued at $4,652,000 after acquiring an additional 25,436 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $7,024,000. GF Fund Management CO. LTD. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $425,000. American Trust bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $218,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Wells Fargo & Company during the fourth quarter valued at approximately $411,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC opened at $85.17 on Tuesday. The firm has a market capitalization of $272.85 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.84 and a quick ratio of 0.83. Wells Fargo & Company has a 1-year low of $53.31 and a 1-year high of $85.28. The company’s fifty day moving average price is $80.47 and its 200-day moving average price is $75.50.

Wells Fargo & Company (NYSE:WFC) last announced its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.13. The firm had revenue of $20.82 billion for the quarter, compared to analyst estimates of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.33 earnings per share. On average, equities research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Friday, August 8th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, August 8th. Wells Fargo & Company’s dividend payout ratio is presently 30.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Citigroup reaffirmed a “neutral” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Raymond James Financial downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 7th. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research note on Wednesday, July 16th. Phillip Securities downgraded shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, July 17th. Finally, Bank of America boosted their price objective on shares of Wells Fargo & Company from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.56.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.