Wells Fargo & Company $WFC Position Raised by FineMark National Bank & Trust

FineMark National Bank & Trust grew its position in shares of Wells Fargo & Company (NYSE:WFC) by 104.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 104,387 shares of the financial services provider’s stock after acquiring an additional 53,441 shares during the quarter. FineMark National Bank & Trust’s holdings in Wells Fargo & Company were worth $8,363,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Access Investment Management LLC acquired a new position in Wells Fargo & Company during the 2nd quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Wells Fargo & Company by 585.5% in the first 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 period. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Wells Fargo & Company during the second quarter valued at approximately $27,000. Motco boosted its position in shares of Wells Fargo & Company by 397.6% during the first quarter. Motco now owns 408 shares of the financial services provider’s stock worth $29,000 after buying an additional 326 shares during the period. Finally, Accent Capital Management LLC acquired a new position in shares of Wells Fargo & Company during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

WFC has been the topic of several analyst reports. Weiss Ratings upgraded Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research report on Wednesday, October 8th. Bank of America raised their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Morgan Stanley increased 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 report on Wednesday, October 15th. UBS Group lowered their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Finally, Dbs Bank raised shares of Wells Fargo & Company to a “moderate buy” rating in a research note on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.57.

Wells Fargo & Company Price Performance

Shares of Wells Fargo & Company stock opened at $83.89 on Wednesday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $88.64. 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 stock has a market cap of $263.35 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company’s 50-day moving average price is $83.86 and its two-hundred day moving average price is $80.14.

Wells Fargo & Company (NYSE:WFC) last posted its quarterly earnings data on Tuesday, October 14th. The financial services provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.18. Wells Fargo & Company had a net margin of 17.18% and a return on equity of 12.51%. The company had revenue of $21.44 billion during the quarter, compared to analyst estimates of $21.11 billion. During the same quarter last year, the firm posted $1.42 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Wells Fargo & Company will post 5.89 EPS for the current fiscal year.

Wells Fargo & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a $0.45 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.80 annualized dividend and a yield of 2.1%. Wells Fargo & Company’s payout ratio is 29.61%.

Wells Fargo & 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.