Simon Quick Advisors LLC Has $590,000 Holdings in Wells Fargo & Company (NYSE:WFC)

Simon Quick Advisors LLC grew its position in Wells Fargo & Company (NYSE:WFC) by 21.5% in the second quarter, Holdings Channel.com reports. The fund owned 9,934 shares of the financial services provider’s stock after buying an additional 1,760 shares during the period. Simon Quick Advisors LLC’s holdings in Wells Fargo & Company were worth $590,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company during the 4th quarter worth about $25,000. Transcendent Capital Group LLC bought a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $32,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Wells Fargo & Company during the 4th quarter worth $34,000. Beaird Harris Wealth Management LLC acquired a new position in Wells Fargo & Company in the fourth quarter valued at about $34,000. Finally, VisionPoint Advisory Group LLC boosted its stake in Wells Fargo & Company by 180.4% during the 4th quarter. VisionPoint Advisory Group LLC now owns 715 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 460 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $58.12 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. The company has a market cap of $202.62 billion, a P/E ratio of 11.93, a P/E/G ratio of 1.43 and a beta of 1.17. Wells Fargo & Company has a one year low of $38.38 and a one year high of $62.55. The firm has a 50-day moving average of $57.43 and a 200-day moving average of $57.88.

Wells Fargo & Company (NYSE:WFC) last released its earnings results on Friday, July 12th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Wells Fargo & Company had a return on equity of 12.30% and a net margin of 15.17%. The company had revenue of $20.69 billion for the quarter, compared to analysts’ expectations of $20.29 billion. During the same period in the previous year, the business posted $1.25 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that Wells Fargo & Company will post 5.15 EPS for the current fiscal year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.40 per share. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.75%. Wells Fargo & Company’s dividend payout ratio is presently 32.85%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WFC shares. Deutsche Bank Aktiengesellschaft upgraded shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Tuesday. Jefferies Financial Group downgraded shares of Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a report on Friday, August 16th. Morgan Stanley lifted their target price on Wells Fargo & Company from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods lowered their price target on shares of Wells Fargo & Company from $62.00 to $61.00 and set a “market perform” rating on the stock in a report on Monday, July 15th. Finally, BMO Capital Markets boosted their target price on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a research report on Thursday, July 11th. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.41.

Wells Fargo & Company Profile

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.