Compass Financial Management LLC Purchases New Shares in Wells Fargo & Company $WFC

Key Points

• Compass Financial Management LLC acquired 17,089 Wells Fargo shares worth approximately $1.44 million during the second quarter. Institutional investors collectively own 75.9% of the company.
• Analysts maintain a generally positive view of Wells Fargo, with a consensus rating of “Moderate Buy” and an average price target of $98.61.
• Wells Fargo reported quarterly EPS of $1.96, exceeding estimates, while revenue rose 8.6% year over year to $22.62 billion. The company also increased its quarterly dividend to $0.50 per share, representing a 2.2% yield.

Compass Financial Management LLC acquired a new stake in shares of Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,089 shares of the financial services provider's stock, valued at approximately $1,437,000.

A number of other hedge funds have also recently bought and sold shares of WFC. Godfrey Financial Associates Inc. bought a new position in shares of Wells Fargo & Company during the fourth quarter valued at about $25,000. Miller Capital Partners Inc. bought a new stake in Wells Fargo & Company in the 4th quarter worth about $25,000. Navalign LLC bought a new stake in Wells Fargo & Company in the 4th quarter worth about $26,000. Phillip James Consulting Co. purchased a new stake in Wells Fargo & Company in the 1st quarter valued at about $28,000. Finally, Core Wealth Advisors LLC purchased a new stake in Wells Fargo & Company in the 4th quarter valued at about $29,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WFC. JPMorgan Chase & Co. boosted their target price on Wells Fargo & Company from $93.50 to $95.50 and gave the stock a "neutral" rating in a research note on Wednesday, July 29th. UBS Group reduced their target price on Wells Fargo & Company from $105.00 to $104.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Keefe, Bruyette & Woods decreased their price target on 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. Bank of America lifted their price target on Wells Fargo & Company from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Finally, Morgan Stanley boosted their price objective on Wells Fargo & Company from $97.00 to $102.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $98.61.

Wells Fargo & Company Price Performance

Shares of NYSE WFC opened at $89.90 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90. Wells Fargo & Company has a fifty-two week low of $72.78 and a fifty-two week high of $97.76. The stock has a market cap of $271.86 billion, a PE ratio of 13.07, a price-to-earnings-growth ratio of 0.98 and a beta of 0.92. The stock has a fifty day moving average of $86.69 and a 200-day moving average of $82.66.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last posted its earnings results on Tuesday, July 14th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.23. Wells Fargo & Company had a net margin of 17.55% and a return on equity of 13.85%. The business had revenue of $22.62 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same period in the prior year, the company posted $1.60 EPS. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.2%. This is an increase from Wells Fargo & Company's previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Friday, August 7th. Wells Fargo & Company's dividend payout ratio is presently 29.07%.

Wells Fargo & Company Profile

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.

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