Wells Fargo & Company (NYSE:WFC) Shares Acquired by Flagstone Financial Management

Flagstone Financial Management increased its stake in shares of Wells Fargo & Company (NYSE:WFC) by 2.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 11,409 shares of the financial services provider’s stock after purchasing an additional 233 shares during the period. Wells Fargo & Company makes up 0.3% of Flagstone Financial Management’s portfolio, making the stock its 24th largest holding. Flagstone Financial Management’s holdings in Wells Fargo & Company were worth $678,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WFC. Core Wealth Advisors Inc. acquired a new stake in shares of Wells Fargo & Company in the 4th quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new position in Wells Fargo & Company during the fourth quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in Wells Fargo & Company in the fourth quarter valued at about $32,000. Bfsg LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at approximately $34,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new position in Wells Fargo & Company during the 4th quarter worth approximately $34,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price target 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. Evercore ISI restated an “outperform” rating and set a $67.00 target price (down from $70.00) on shares of Wells Fargo & Company in a research report on Monday, July 15th. BMO Capital Markets increased their price target on shares of Wells Fargo & Company from $55.00 to $57.00 and gave the company a “market perform” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. raised their price objective on shares of Wells Fargo & Company from $59.00 to $61.50 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Jefferies Financial Group lowered 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 research report on Friday, August 16th. Thirteen analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.63.

Wells Fargo & Company Trading Up 1.3 %

WFC traded up $0.72 during trading on Friday, hitting $56.68. The company’s stock had a trading volume of 17,062,868 shares, compared to its average volume of 18,010,037. The firm’s 50 day moving average price is $57.55 and its 200-day moving average price is $57.35. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.86 and a quick ratio of 0.85. Wells Fargo & Company has a twelve month low of $38.38 and a twelve month high of $62.55. The stock has a market cap of $197.60 billion, a PE ratio of 11.64, a PEG ratio of 1.40 and a beta of 1.17.

Wells Fargo & Company (NYSE:WFC) last issued its earnings results on Friday, July 12th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $20.69 billion for the quarter, compared to analyst estimates of $20.29 billion. During the same period last year, the company posted $1.25 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts expect that Wells Fargo & Company will post 5.14 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 9th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.82%. This is a boost from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s payout ratio is presently 32.85%.

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.