Plancorp LLC Purchases 240 Shares of Wells Fargo & Company (NYSE:WFC)

Plancorp LLC increased its position in shares of Wells Fargo & Company (NYSE:WFC) by 1.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,514 shares of the financial services provider’s stock after buying an additional 240 shares during the quarter. Plancorp LLC’s holdings in Wells Fargo & Company were worth $803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 1832 Asset Management L.P. lifted its position in Wells Fargo & Company by 67.1% during the 1st quarter. 1832 Asset Management L.P. now owns 5,852,764 shares of the financial services provider’s stock worth $339,226,000 after buying an additional 2,349,595 shares in the last quarter. Morningstar Investment Services LLC raised its holdings in Wells Fargo & Company by 103.7% during the fourth quarter. Morningstar Investment Services LLC now owns 3,833,570 shares of the financial services provider’s stock worth $189,684,000 after acquiring an additional 1,951,477 shares in the last quarter. Rokos Capital Management LLP raised its holdings in Wells Fargo & Company by 141.6% during the first quarter. Rokos Capital Management LLP now owns 2,620,868 shares of the financial services provider’s stock worth $151,853,000 after acquiring an additional 1,536,152 shares in the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in Wells Fargo & Company in the first quarter valued at approximately $84,819,000. Finally, Canada Pension Plan Investment Board increased its position in shares of Wells Fargo & Company by 38.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,131,320 shares of the financial services provider’s stock worth $297,411,000 after purchasing an additional 1,415,647 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analyst Ratings Changes

WFC has been the subject of several recent analyst reports. Evercore ISI cut their price objective on Wells Fargo & Company from $67.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft raised shares of Wells Fargo & Company from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, September 3rd. BMO Capital Markets boosted their price objective on Wells Fargo & Company from $55.00 to $57.00 and gave the stock a “market perform” rating in a report on Thursday, July 11th. Jefferies Financial Group lowered Wells Fargo & Company to a “hold” rating and lowered their target price for the stock from $62.00 to $59.00 in a research note on Friday, August 16th. Finally, The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Twelve analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.29.

Wells Fargo & Company Trading Up 2.0 %

NYSE WFC opened at $53.81 on Tuesday. Wells Fargo & Company has a 12 month low of $38.38 and a 12 month high of $62.55. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $187.60 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.27 and a beta of 1.16. The business’s 50-day moving average price is $56.49 and its two-hundred day moving average price is $57.92.

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

Wells Fargo & Company Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Friday, August 9th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Wells Fargo & Company’s previous quarterly dividend of $0.35. Wells Fargo & Company’s dividend payout ratio (DPR) is currently 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.