Mainstay Capital Management LLC ADV Buys 18,853 Shares of Wells Fargo & Company $WFC

Mainstay Capital Management LLC ADV boosted its stake in Wells Fargo & Company (NYSE:WFC - Free Report) by 103.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,052 shares of the financial services provider's stock after acquiring an additional 18,853 shares during the quarter. Mainstay Capital Management LLC ADV's holdings in Wells Fargo & Company were worth $2,969,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Wells Fargo & Company by 62.3% during the 4th quarter. Brighton Jones LLC now owns 66,233 shares of the financial services provider's stock worth $4,652,000 after buying an additional 25,436 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Wells Fargo & Company by 296.5% in the 1st quarter. Harbor Capital Advisors Inc. now owns 686 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 513 shares during the period. GAMMA Investing LLC raised its holdings in shares of Wells Fargo & Company by 11.3% in the 1st quarter. GAMMA Investing LLC now owns 47,264 shares of the financial services provider's stock valued at $3,393,000 after purchasing an additional 4,786 shares during the period. Sonora Investment Management Group LLC raised its holdings in shares of Wells Fargo & Company by 26.1% in the 1st quarter. Sonora Investment Management Group LLC now owns 4,699 shares of the financial services provider's stock valued at $337,000 after purchasing an additional 973 shares during the period. Finally, Sanibel Captiva Trust Company Inc. raised its holdings in shares of Wells Fargo & Company by 23.1% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 21,180 shares of the financial services provider's stock valued at $1,521,000 after purchasing an additional 3,969 shares during the period. 75.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WFC. UBS Group dropped their target price on shares of Wells Fargo & Company from $95.00 to $93.00 and set a "buy" rating on the stock in a report on Tuesday. Dbs Bank upgraded shares of Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Evercore ISI upped their price target on shares of Wells Fargo & Company from $94.00 to $98.00 and gave the company an "outperform" rating in a research note on Tuesday, September 30th. The Goldman Sachs Group decreased their price target 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. Finally, Morgan Stanley lowered shares of Wells Fargo & Company from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $87.00 to $90.00 in a research note on Monday, September 29th. Nine equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.41.

Wells Fargo & Company Stock Performance

Shares of Wells Fargo & Company stock opened at $79.74 on Thursday. The company has a market cap of $255.44 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.31 and a beta of 1.25. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average of $80.65 and a 200-day moving average of $76.44. Wells Fargo & Company has a 1-year low of $57.07 and a 1-year high of $86.65.

Wells Fargo & Company (NYSE:WFC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.41 by $0.13. The business had revenue of $20.82 billion during the quarter, compared to the consensus estimate of $20.83 billion. Wells Fargo & Company had a net margin of 16.82% and a return on equity of 12.29%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 earnings per share for the current fiscal year.

Wells Fargo & Company Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Friday, August 8th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. Wells Fargo & Company's payout ratio is currently 30.82%.

Wells Fargo & Company Company Profile

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.

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