Wells Fargo & Company (NYSE:WFC) Shares Acquired by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. increased its holdings in shares of Wells Fargo & Company (NYSE:WFC) by 6.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,463 shares of the financial services provider’s stock after acquiring an additional 2,764 shares during the period. Geneos Wealth Management Inc.’s holdings in Wells Fargo & Company were worth $2,641,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jacobsen Capital Management boosted its holdings in shares of Wells Fargo & Company by 7.9% during the 2nd quarter. Jacobsen Capital Management now owns 5,310 shares of the financial services provider’s stock worth $315,000 after purchasing an additional 389 shares during the last quarter. Atlas Brown Inc. increased its stake in shares of Wells Fargo & Company by 8.0% in the 2nd quarter. Atlas Brown Inc. now owns 6,673 shares of the financial services provider’s stock worth $396,000 after acquiring an additional 495 shares during the last quarter. Traphagen Investment Advisors LLC boosted its position in shares of Wells Fargo & Company by 8.7% during the 2nd quarter. Traphagen Investment Advisors LLC now owns 6,437 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 517 shares during the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in shares of Wells Fargo & Company by 33.1% in the second quarter. Moss Adams Wealth Advisors LLC now owns 7,364 shares of the financial services provider’s stock valued at $437,000 after purchasing an additional 1,830 shares during the period. Finally, Keystone Financial Services increased its holdings in shares of Wells Fargo & Company by 4.9% during the 2nd quarter. Keystone Financial Services now owns 17,966 shares of the financial services provider’s stock worth $1,067,000 after buying an additional 847 shares during the last quarter. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wells Fargo & Company Trading Up 2.1 %

Shares of WFC traded up $1.16 on Friday, hitting $57.12. 2,958,122 shares of the stock traded hands, compared to its average volume of 17,923,506. The firm has a market capitalization of $199.14 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.40 and a beta of 1.17. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.11. Wells Fargo & Company has a 1 year low of $38.38 and a 1 year high of $62.55. The stock’s 50 day moving average is $57.56 and its two-hundred day moving average is $57.29.

Wells Fargo & Company (NYSE:WFC) last posted its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $20.69 billion during the quarter, compared to the consensus estimate of $20.29 billion. Wells Fargo & Company had a net margin of 15.17% and a return on equity of 12.30%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, sell-side analysts predict that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.80%. Wells Fargo & Company’s dividend payout ratio (DPR) is 32.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a research note on Monday, July 15th. Morgan Stanley upped their price target on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group downgraded Wells Fargo & Company to a “hold” rating and lowered their price objective for the stock from $62.00 to $59.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Evercore ISI reissued an “outperform” rating and issued a $67.00 price objective (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. Thirteen equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $59.63.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.