TRB Wealth Management LLC Invests $899,000 in Wells Fargo & Company $WFC

TRB Wealth Management LLC purchased a new stake in shares of Wells Fargo & Company (NYSE:WFC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,876 shares of the financial services provider’s stock, valued at approximately $899,000.

A number of other large investors have also recently modified their holdings of the company. Godfrey Financial Associates Inc. bought a new stake in Wells Fargo & Company during the 4th quarter valued at $25,000. Miller Capital Partners Inc. bought a new position in shares of Wells Fargo & Company during the 4th quarter worth $25,000. Navalign LLC bought a new position in shares of Wells Fargo & Company during the 4th quarter worth $26,000. Joseph Group Capital Management purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at $28,000. Finally, Core Wealth Advisors LLC purchased a new position in shares of Wells Fargo & Company during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WFC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Wells Fargo & Company in a research note on Friday, July 17th. Phillip Securities raised shares of Wells Fargo & Company from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Wells Fargo & Company from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $98.00 to $94.00 and set a “market perform” rating for the company in a research report on Wednesday, July 15th. Finally, Robert W. Baird increased their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.61.

Wells Fargo & Company Price Performance

Shares of WFC stock opened at $84.82 on Wednesday. Wells Fargo & Company has a 1-year low of $72.78 and a 1-year high of $97.76. The stock’s 50-day moving average is $86.11 and its 200 day moving average is $82.79. The company has a market cap of $256.51 billion, a P/E ratio of 12.33, a PEG ratio of 0.92 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 announced its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. The business had revenue of $22.62 billion during the quarter, compared to the consensus estimate of $21.86 billion. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. Research analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a dividend of $0.50 per share. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.07%.

About Wells Fargo & Company

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.