FSM Wealth Advisors LLC Buys Shares of 3,151 Wells Fargo & Company $WFC

FSM Wealth Advisors LLC bought a new position in Wells Fargo & Company (NYSE:WFC) in the second quarter, Holdings Channel reports. The institutional investor bought 3,151 shares of the financial services provider’s stock, valued at approximately $259,000.

Several other institutional investors have also modified their holdings of the stock. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Wells Fargo & Company in the second quarter valued at about $27,000. CBIZ Investment Advisory Services LLC boosted its holdings in Wells Fargo & Company by 585.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 322 shares during the last quarter. Accent Capital Management LLC acquired a new position in Wells Fargo & Company in the 1st quarter valued at about $29,000. Motco grew its stake in shares of Wells Fargo & Company by 397.6% in the 1st quarter. Motco now owns 408 shares of the financial services provider’s stock valued at $29,000 after buying an additional 326 shares during the period. Finally, Nova Wealth Management Inc. grew its stake in shares of Wells Fargo & Company by 112.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 428 shares of the financial services provider’s stock valued at $34,000 after buying an additional 227 shares during the period. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Stock Up 0.6%

Shares of NYSE WFC opened at $84.35 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.07. The business’s 50 day moving average is $81.71 and its two-hundred day moving average is $77.44. Wells Fargo & Company has a 52-week low of $58.42 and a 52-week high of $87.47. The firm has a market cap of $270.22 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.15 and a beta of 1.25.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.55 by $0.11. The business had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. Wells Fargo & Company had a return on equity of 12.51% and a net margin of 17.18%.The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $1.42 earnings per share. Research analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.80 annualized dividend and a yield of 2.1%. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.40. Wells Fargo & Company’s dividend payout ratio is presently 29.61%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Cowen reaffirmed a “hold” rating on shares of Wells Fargo & Company in a research report on Wednesday, October 15th. Dbs Bank raised Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday. Barclays lifted their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Cfra Research raised Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Evercore ISI increased their price target on Wells Fargo & Company from $94.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $89.57.

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.