MRA Advisory Group Boosts Stock Holdings in Wells Fargo & Company $WFC

Key Points

• MRA Advisory Group significantly increased its holdings in Wells Fargo by 95.7%, acquiring an additional 3,493 shares, bringing its total to 7,144 shares valued at approximately $572,000.
• Wells Fargo recently reported EPS of $1.54 for the quarter, surpassing analysts' expectations of $1.41, with a slight year-over-year revenue increase of 0.6%.
• The company raised its quarterly dividend from $0.40 to $0.45 per share, representing a 2.2% yield with a payout ratio of 30.82%.

MRA Advisory Group raised its holdings in shares of Wells Fargo & Company (NYSE:WFC - Free Report) by 95.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,144 shares of the financial services provider's stock after acquiring an additional 3,493 shares during the period. MRA Advisory Group's holdings in Wells Fargo & Company were worth $572,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WFC. CBIZ Investment Advisory Services LLC boosted its position in shares of Wells Fargo & Company by 585.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 322 shares during the last quarter. Motco boosted its holdings in shares of Wells Fargo & Company by 397.6% in the first 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 stake in shares of Wells Fargo & Company during the first quarter worth $29,000. 1248 Management LLC purchased a new position in shares of Wells Fargo & Company in the first quarter valued at $31,000. Finally, Stone House Investment Management LLC acquired a new stake in Wells Fargo & Company in the 1st quarter worth about $34,000. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

WFC stock opened at $81.46 on Monday. The stock has a 50-day moving average price of $80.38 and a 200-day moving average price of $75.14. Wells Fargo & Company has a 1-year low of $51.75 and a 1-year high of $84.83. 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 firm has a market cap of $260.95 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.27 and a beta of 1.25.

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, topping analysts' consensus estimates of $1.41 by $0.13. Wells Fargo & Company had a return on equity of 12.29% and a net margin of 16.82%.The firm had revenue of $20.82 billion during the quarter, compared to analyst estimates of $20.83 billion. During the same period in the previous year, the company posted $1.33 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. As a group, equities research analysts expect that Wells Fargo & Company will post 5.89 earnings per share for the current year.

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 given a dividend of $0.45 per share. The ex-dividend date was Friday, August 8th. This is a positive change from Wells Fargo & Company's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.2%. Wells Fargo & Company's dividend payout ratio (DPR) is currently 30.82%.

Analyst Ratings Changes

Several research firms recently commented on WFC. The Goldman Sachs Group reduced their price target on Wells Fargo & Company from $92.00 to $91.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Evercore ISI reissued an "outperform" rating on shares of Wells Fargo & Company in a research note on Tuesday, July 8th. Cowen reiterated a "hold" rating on shares of Wells Fargo & Company in a research report on Wednesday, July 16th. Bank of America raised their price target on Wells Fargo & Company from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Dbs Bank raised Wells Fargo & Company from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Wells Fargo & Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.56.

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.

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