DecisionMap Wealth Management LLC Buys Shares of 3,742 Wells Fargo & Company $WFC

Key Points

• DecisionMap Wealth Management LLC has acquired 3,742 shares of Wells Fargo & Company, valued at around $300,000, indicating a growing institutional interest in the stock.
• Wells Fargo recently increased its dividend from $0.40 to $0.45 per share, reflecting a positive outlook for the company, with a yield of 2.1%.
• Several analysts have upgraded their ratings for Wells Fargo, with a consensus average rating of Moderate Buy and a target price of $89.57, signaling bullish sentiment among investors.

DecisionMap Wealth Management LLC purchased a new position in shares of Wells Fargo & Company (NYSE:WFC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,742 shares of the financial services provider's stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC boosted its position in shares of Wells Fargo & Company by 585.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock worth $27,000 after buying an additional 322 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in Wells Fargo & Company during the 2nd quarter worth about $27,000. Motco boosted its holdings in Wells Fargo & Company by 397.6% during the 1st quarter. Motco now owns 408 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 326 shares during the period. Accent Capital Management LLC acquired a new position in Wells Fargo & Company in the 1st quarter valued at about $29,000. Finally, 1248 Management LLC acquired a new position in Wells Fargo & Company in the 1st quarter valued at about $31,000. 75.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WFC. Wall Street Zen raised shares of Wells Fargo & Company from a "sell" rating to a "hold" rating in a research report on Saturday, October 4th. The Goldman Sachs Group cut their target price on shares of Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Bank of America raised their price target on shares of Wells Fargo & Company from $92.00 to $100.00 and gave the company a "buy" rating in a research report on Wednesday, October 15th. Citigroup boosted their price target on shares of Wells Fargo & Company from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 23rd. Finally, Weiss Ratings upgraded Wells Fargo & Company from a "hold (c)" rating to a "buy (b)" rating in a research note on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $89.57.

Wells Fargo & Company Trading Up 3.2%

Shares of NYSE:WFC opened at $85.97 on Tuesday. Wells Fargo & Company has a 52 week low of $58.42 and a 52 week high of $87.47. The company's 50 day moving average is $81.38 and its two-hundred day moving average is $77.19. The company has a market cap of $275.39 billion, a PE ratio of 14.14, a P/E/G ratio of 1.15 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Friday, August 8th were paid a $0.45 dividend. This is a boost from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, August 8th. Wells Fargo & Company's payout ratio is 29.61%.

About Wells Fargo & Company

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.