Wells Fargo & Company $WFC Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC raised its stake in shares of Wells Fargo & Company (NYSE:WFC) by 26.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,083 shares of the financial services provider’s stock after purchasing an additional 2,559 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Wells Fargo & Company were worth $968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFC. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Wells Fargo & Company by 2,735,254.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 949,769,723 shares of the financial services provider’s stock worth $76,095,550,000 after acquiring an additional 949,735,001 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Wells Fargo & Company by 277.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,740,934 shares of the financial services provider’s stock worth $771,092,000 after acquiring an additional 7,894,919 shares in the last quarter. Strs Ohio acquired a new stake in shares of Wells Fargo & Company in the first quarter worth $109,643,000. Canada Pension Plan Investment Board increased its position in shares of Wells Fargo & Company by 34.6% in the first quarter. Canada Pension Plan Investment Board now owns 5,307,366 shares of the financial services provider’s stock worth $381,016,000 after acquiring an additional 1,365,629 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Wells Fargo & Company by 30.5% in the first quarter. Principal Financial Group Inc. now owns 4,926,423 shares of the financial services provider’s stock worth $353,668,000 after acquiring an additional 1,152,181 shares in the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $86.35 on Monday. Wells Fargo & Company has a twelve month low of $58.42 and a twelve month high of $87.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $276.61 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 1.19 and a beta of 1.25. The firm has a fifty day simple moving average of $81.89 and a 200-day simple moving average of $77.80.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.11. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.11 billion. During the same period in the prior year, the firm posted $1.42 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a dividend of $0.45 per share. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, August 8th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Wells Fargo & Company’s payout ratio is currently 29.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on WFC shares. Phillip Securities lowered shares of Wells Fargo & Company from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, July 17th. The Goldman Sachs Group dropped their price objective on shares of Wells Fargo & Company from $92.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Barclays upped their target price on shares of Wells Fargo & Company from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Cfra Research upgraded shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Wednesday, October 15th. Finally, Morgan Stanley upped their target price on shares of Wells Fargo & Company from $95.00 to $97.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 15th. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.57.

Wells Fargo & Company Company Profile

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.