Manchester Capital Management LLC Buys 3,550 Shares of Wells Fargo & Company $WFC

Manchester Capital Management LLC increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 38.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 12,899 shares of the financial services provider’s stock after purchasing an additional 3,550 shares during the quarter. Manchester Capital Management LLC’s holdings in Wells Fargo & Company were worth $1,033,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. FourThought Financial Partners LLC grew its holdings in shares of Wells Fargo & Company by 43.9% in the second quarter. FourThought Financial Partners LLC now owns 7,302 shares of the financial services provider’s stock worth $585,000 after purchasing an additional 2,228 shares during the last quarter. Elo Mutual Pension Insurance Co boosted its position in Wells Fargo & Company by 19.8% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 131,286 shares of the financial services provider’s stock valued at $10,519,000 after buying an additional 21,710 shares during the period. Southeast Asset Advisors LLC purchased a new stake in Wells Fargo & Company during the 2nd quarter valued at $211,000. Laurel Wealth Advisors LLC grew its holdings in Wells Fargo & Company by 8,010.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,973,730 shares of the financial services provider’s stock worth $158,135,000 after acquiring an additional 1,949,395 shares during the last quarter. Finally, RiverFront Investment Group LLC increased its position in shares of Wells Fargo & Company by 5.0% in the second quarter. RiverFront Investment Group LLC now owns 107,490 shares of the financial services provider’s stock valued at $8,612,000 after acquiring an additional 5,150 shares during the period. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFC has been the subject of a number of analyst reports. Barclays raised their target price on Wells Fargo & Company from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. UBS Group dropped their price objective on Wells Fargo & Company from $95.00 to $93.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Weiss Ratings raised Wells Fargo & Company from a “hold (c)” rating to a “buy (b)” rating in a research note on Wednesday, October 8th. Bank of America raised their price target on Wells Fargo & Company from $92.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Finally, Citigroup raised their target price on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Eleven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Wells Fargo & Company presently has an average rating of “Moderate Buy” and a consensus price target of $89.57.

Wells Fargo & Company Trading Up 1.8%

Wells Fargo & Company stock opened at $84.62 on Tuesday. The business’s fifty day moving average is $84.06 and its 200 day moving average is $80.42. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $265.63 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. Wells Fargo & Company has a one year low of $58.42 and a one year high of $88.64.

Wells Fargo & Company (NYSE:WFC) last released 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 firm had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.11 billion. During the same period in the previous year, the company earned $1.42 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts predict that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

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

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.