Uptick Partners LLC Takes Position in Wells Fargo & Company $WFC

Uptick Partners LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,185 shares of the financial services provider’s stock, valued at approximately $842,000.

A number of other large investors also recently bought and sold shares of the business. Madison Asset Management LLC purchased a new stake in Wells Fargo & Company during the second quarter worth $905,000. Csenge Advisory Group bought a new stake in Wells Fargo & Company during the 2nd quarter valued at $696,000. AssuredPartners Investment Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $353,000. Johnson Financial Group Inc. purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $2,872,000. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Wells Fargo & Company in the 2nd quarter valued at $957,000. Institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WFC shares. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a research note on Tuesday, July 14th. Keefe, Bruyette & Woods cut their target price on Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a report on Friday, July 17th. Bank of America increased their price target on shares of Wells Fargo & Company from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.61.

Wells Fargo & Company Stock Down 0.0%

Shares of WFC stock opened at $83.83 on Monday. The stock’s fifty day moving average price is $86.08 and its 200 day moving average price is $82.91. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The company has a market cap of $253.50 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.91 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.90 and a quick ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to analysts’ expectations of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $1.60 earnings per share. On average, research analysts expect that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s payout ratio is 29.07%.

Wells Fargo & Company Profile

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.